CoinDesk
{{short description|Website about bitcoin and digital currencies, owned by Digital Currency Group}}
{{italictitle}}
{{Infobox website
| name = CoinDesk
| logo = CoinDesk logo.svg
| logo_size = 260px
| location = New York, NY
| launch_date = {{start date and age|2013|05}}
| company_type = Subsidiary
| parent = {{ubl|Digital Currency Group (2016–23)|Bullish (2023–present)}}
| url = {{url|https://www.coindesk.com/|coindesk.com}}
| country = U.S.
| founder = Shakil Khan
| editor = Marc Hochstein
| area_served = Worldwide
| industry = Digital currency
| employees =
| international = yes
}}
CoinDesk is a news site specializing in bitcoin and digital currencies. Founded by Shakil Khan, the firm also provides guides to bitcoin for those new to digital currencies.{{Cite news |last=Summers |first=Nick |date=August 21, 2013 |title=Baffled by the world of Bitcoin? This beginner's guide will tell you everything you need to know |work=The Next Web |url=https://thenextweb.com/insider/2013/08/21/baffled-by-the-world-of-bitcoin-this-beginners-guide-will-tell-you-everything-you-need-to-know/ |access-date=June 18, 2018 |archive-date=October 21, 2020 |archive-url=https://web.archive.org/web/20201021215208/https://thenextweb.com/insider/2013/08/21/baffled-by-the-world-of-bitcoin-this-beginners-guide-will-tell-you-everything-you-need-to-know/ |url-status=live }}
Seven years after being acquired by Digital Currency Group, it was purchased in November 2023 by Bullish.{{Cite web|url=https://markets.businessinsider.com/news/currencies/crypto-exchange-bullish-completes-purchase-of-coindesk-wsj-1032835532|title=Crypto Exchange Bullish Completes Purchase of CoinDesk: WSJ|work=Business Insider|access-date=2023-12-13|language=en}}
History
CoinDesk was founded by entrepreneur Shakil Khan and began publishing in May 2013.{{Cite news |last=Cutler |first=Kim-Mai |date=May 1, 2013 |title=Angel Investor, Spotify Fixer Shakil Khan Launches Coindesk, A Bitcoin Resource |work=TechCrunch |url=https://techcrunch.com/2013/05/01/coindesk/ |access-date=June 25, 2017 |archive-date=October 9, 2021 |archive-url=https://web.archive.org/web/20211009055132/https://techcrunch.com/2013/05/01/coindesk/ |url-status=live }} Khan is also an investor in BitPay,{{Cite news |last=Olanoff |first=Drew |date=Jan 7, 2013 |title=BitPay Banks $510K In Investment To Become PayPal for Bitcoin, Already Has 2,100 Businesses On Board |work=TechCrunch |url=https://techcrunch.com/2013/01/07/bitpay-banks-500k-in-angel-investment-to-become-paypal-for-bitcoin-already-has-2100-businesses-on-board/ |access-date=June 25, 2017 |archive-date=June 9, 2021 |archive-url=https://web.archive.org/web/20210609074252/http://techcrunch.com/2013/01/07/bitpay-banks-500k-in-angel-investment-to-become-paypal-for-bitcoin-already-has-2100-businesses-on-board/ |url-status=live }} a bitcoin payment processor.
At the start of 2016, CoinDesk was acquired by Digital Currency Group for an estimated {{USD|500,000–600,000}}.{{Cite news |last=Matney |first=Lucas |date=13 January 2016 |title=CoinDesk Gets Acquired By Digital Currency Group |work=TechCrunch |url=https://techcrunch.com/2016/01/13/coindesk-acquired-by-digital-currency-group/ |access-date=26 April 2018 |archive-date=18 May 2016 |archive-url=https://web.archive.org/web/20160518035638/http://techcrunch.com/2016/01/13/coindesk-acquired-by-digital-currency-group/ |url-status=live }} The next year, in 2017, the company acquired blockchain data and research platform Lawnmower.{{Cite web |last=Roberts, Daniel |date=January 30, 2017 |title=The biggest bitcoin news site bought the best bitcoin data app |url=https://finance.yahoo.com/news/the-biggest-bitcoin-news-site-bought-the-best-bitcoin-data-app-165456815.html |website=Yahoo! Finance |access-date=March 12, 2017 |archive-date=November 12, 2020 |archive-url=https://web.archive.org/web/20201112000504/https://finance.yahoo.com/news/the-biggest-bitcoin-news-site-bought-the-best-bitcoin-data-app-165456815.html |url-status=live }} In 2021 the company acquired cryptocurrency data analytics firm TradeBlock.{{Cite web |last=Vigna, Paul |date=January 5, 2021 |title=CoinDesk Buys TradeBlock, Joining Rush for Bitcoin Analytics |url=https://www.wsj.com/articles/coindesk-buys-tradeblock-joining-rush-for-bitcoin-analytics-11609858800 |website=Wall Street Journal |access-date=June 12, 2021 |archive-date=July 19, 2021 |archive-url=https://web.archive.org/web/20210719105508/https://www.wsj.com/articles/coindesk-buys-tradeblock-joining-rush-for-bitcoin-analytics-11609858800 |url-status=live }}
In December 2017, CoinDesk established CoinDesk Korea in collaboration with the 22nd Century Media Co., subsidiary of Hankyoreh Co., Ltd. to provide blockchain news service in South Korea.{{Cite web |title=CoinDesk Korea Website |url=https://www.coindeskkorea.com/ |access-date=2021-10-22 |archive-date=2021-10-22 |archive-url=https://web.archive.org/web/20211022083406/https://www.coindeskkorea.com/ |url-status=live }}{{Cite web |title=한겨레 블록체인 자회사 '코인데스크코리아' 대표·기자 동반퇴사 - 한국기자협회 |url=https://www.journalist.or.kr/news/article.html?no=52303 |access-date=2025-01-24 |website=www.journalist.or.kr |language=ko}}
In November 2022, CoinDesk reported that FTX's partner firm Alameda Research held a significant portion of its assets in FTX's native token FTT. The news led to a bank run and liquidity crisis at FTX, culminating in FTX filing for bankruptcy protection.{{cite news |last1=Allison |first1=Ian |title=Divisions in Sam Bankman-Fried's Crypto Empire Blur on His Trading Titan Alameda's Balance Sheet |url=https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/ |access-date=9 November 2022 |work=CoinDesk |date=2 November 2022 |language=en |archive-date=8 November 2022 |archive-url=https://web.archive.org/web/20221108235316/https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/ |url-status=live }}{{Cite web |last=Macheel |first=Tanaya |title=Bitcoin briefly touches a new low for the year, FTX token plunges more than 75% in broad crypto sell-off |url=https://www.cnbc.com/2022/11/08/cryptocurrencies-slide-as-worries-about-ftx-fester-in-latest-crypto-liquidity-scare.html |access-date=2022-11-18 |website=CNBC |date=8 November 2022 |language=en |archive-date=2022-11-08 |archive-url=https://web.archive.org/web/20221108150827/https://www.cnbc.com/2022/11/08/cryptocurrencies-slide-as-worries-about-ftx-fester-in-latest-crypto-liquidity-scare.html |url-status=live }}{{Cite web |last1=Darcy |first1=Oliver |title=How a scoop by a little-known crypto site led to the fall of Sam Bankman-Fried and implosion of FTX |work=CNN Business |date=2022-11-24 |url=https://www.cnn.com/2022/11/24/media/coindesk-scoop-ftx-reliable-sources/index.html |language=en |access-date=2022-12-25 |df=mdy-all |archive-date=2022-12-24 |archive-url=https://web.archive.org/web/20221224014020/https://www.cnn.com/2022/11/24/media/coindesk-scoop-ftx-reliable-sources/index.html |url-status=live }}
In November 2023, CoinDesk was acquired by Bullish Global, run by Tom Farley, a former New York Stock Exchange president. It operates a cryptocurrency exchange.{{Cite web |title=Bullish Global Acquires CoinDesk from Digital Currency Group (DCG) |url=https://bullish.com/news-insights/news/bullish-acquires-coindesk-from-digital-currency-group/ |access-date=2023-12-12 |website=Bullish |language=en-US}}{{Cite news |last=Huang |first=Vicky Ge |title=WSJ News Exclusive {{!}} Company Led by Former NYSE President Buys Crypto News Site CoinDesk |url=https://www.wsj.com/finance/currencies/company-led-by-former-nyse-president-buys-crypto-news-site-coindesk-af3b5cc2 |access-date=2024-03-22 |work=WSJ |language=en-US}}{{Cite web |last=Roth |first=Emma |date=2023-11-20 |title=CoinDesk bought by crypto exchange Bullish |url=https://www.theverge.com/2023/11/20/23968952/coindesk-bullish-crypto-exchange-acquisition |access-date=2024-03-22 |website=The Verge |language=en}}
CoinDesk TV
CoinDesk TV is an online video channel that produces live news program every day. The channel produces daily and weekly shows including "First Mover", "The Hash", "All About Bitcoin", "Word On The Block" and so on. {{Cite web |title=All Series |url=https://www.coindesk.com/tv/all-series/ |access-date=2023-10-07 |website=www.coindesk.com |language=en |archive-date=2023-03-23 |archive-url=https://web.archive.org/web/20230323004049/https://www.coindesk.com/tv/all-series/ |url-status=live }}
Consensus Event
Consensus is CoinDesk's annual crypto summit. It started in 2015. It has been held in New York City from 2017 to 2019,{{Cite news |last=Hodgson |first=Sam |date=2018-05-18 |title=When Thousands Filled a Hilton Ballroom to Ponder the Future of Bitcoin |language=en-US |work=The New York Times |url=https://www.nytimes.com/2018/05/18/technology/consensus-bitcoin-conference-photos.html |access-date=2023-04-30 |issn=0362-4331 |archive-date=2023-04-30 |archive-url=https://web.archive.org/web/20230430154555/https://www.nytimes.com/2018/05/18/technology/consensus-bitcoin-conference-photos.html |url-status=live }}{{Cite web |last=Canellis |first=David |date=2019-03-18 |title=Australia's new blockchain strategy is $71K and a non-existent roadmap |url=https://thenextweb.com/news/australia-blockchain-strategy-stipend-roadmap |access-date=2023-04-30 |website=TNW {{!}} Fintech-Ecommerce |language=en |archive-date=2023-04-30 |archive-url=https://web.archive.org/web/20230430154554/https://thenextweb.com/news/australia-blockchain-strategy-stipend-roadmap |url-status=live }} virtually in 2020 and 2021, and in Austin, Texas since 2022.{{Cite news |date=2022-09-15 |title=Transcript: Senator Pat Toomey on the Bad State of Crypto Regulation |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2022-09-15/transcript-senator-pat-toomey-on-the-bad-state-of-crypto-regulation |access-date=2023-04-30}}
Bitcoin Price Index
The CoinDesk Bitcoin Price Index (CoinDesk BPI) was launched in September 2013.{{Cite news |last=Del Rey |first=Jason |date=September 11, 2013 |title=What's a Bitcoin Really Worth? CoinDesk Thinks It Has the Answer. |work=All Things D |url=http://allthingsd.com/20130911/whats-a-bitcoin-really-worth-coindesk-thinks-it-has-the-answer/ |access-date=October 10, 2014 |archive-date=September 9, 2015 |archive-url=https://web.archive.org/web/20150909224621/http://allthingsd.com/20130911/whats-a-bitcoin-really-worth-coindesk-thinks-it-has-the-answer/ |url-status=live }} The Bitcoin Price Index is an average of bitcoin prices across bitcoin exchanges, and began by using price data from Bitstamp, BTC-e and CampBX. Although Mt. Gox data was not used initially, due to withdrawal concerns for US customers,{{Cite news |last=Matonis |first=Jon |date=September 11, 2013 |title=CoinDesk launches proprietary Bitcoin Price Index |publisher=CoinDesk |url=https://www.coindesk.com/coindesk-launches-proprietary-bitcoin-price-index/ |access-date=June 8, 2019 |archive-date=November 11, 2020 |archive-url=https://web.archive.org/web/20201111222414/https://www.coindesk.com/coindesk-launches-proprietary-bitcoin-price-index |url-status=live }} in November 2013, Mt. Gox was added to the BPI due to "a reduction in the risk premium and the option of additional deposit/withdrawal methods".{{Cite web |title=About the Bitcoin Price Index |url=https://www.coindesk.com/price/bitcoin-price-index/ |website=CoinDesk |access-date=2019-06-08 |archive-date=2021-05-05 |archive-url=https://web.archive.org/web/20210505210610/https://www.coindesk.com/price/bitcoin-price-index |url-status=live }} The Mt. Gox bitcoin exchange was eventually removed from the index in February 2014 after its "persistent failure to meet the index's standards for inclusion".{{Cite news |last=Forgione |first=Sam |date=Feb 11, 2014 |title=Bitcoin plunges after marketplace indefinitely halts withdrawals |work=Reuters |publisher=Reuters |url=https://www.reuters.com/article/us-investing-bitcoin-idUSBREA191Y220140211 |access-date=July 5, 2021 |archive-date=August 17, 2016 |archive-url=https://web.archive.org/web/20160817153348/http://www.reuters.com/article/us-investing-bitcoin-idUSBREA191Y220140211 |url-status=live }}
The index was restored to an average of three exchanges in March 2014 with the inclusion of Bitfinex price data, according to CoinDesk: "Since the decline of Mt. Gox, we have observed that Bitfinex has been able to sustain a dramatic increase in its share of the total volume of U.S. dollar-denominated bitcoins traded".{{Cite news |last1=Casey |first1=Michael J. |last2=Vigna |first2=Paul |date=Mar 12, 2014 |title=BitBeat: Coindesk Index Finds a Mt. Gox Replacement |work=The Wall Street Journal |url=https://blogs.wsj.com/moneybeat/2014/03/12/bitbeat-coindesk-index-finds-a-mt-gox-replacement/ |access-date=August 4, 2017 |archive-date=August 9, 2020 |archive-url=https://web.archive.org/web/20200809134321/https://blogs.wsj.com/moneybeat/2014/03/12/bitbeat-coindesk-index-finds-a-mt-gox-replacement/ |url-status=live }}{{update after|2016|8|9}}
Publications which have referenced the Bitcoin Price Index data or price include the BBC,{{Cite news |date=Oct 6, 2014 |title=Bitcoin price falls to 11-month low |publisher=BBC |url=https://www.bbc.co.uk/news/technology-29507443 |access-date=June 21, 2018 |archive-date=November 12, 2020 |archive-url=https://web.archive.org/web/20201112014924/https://www.bbc.co.uk/news/technology-29507443 |url-status=live }} The Wall Street Journal,{{Cite news |last1=Vigna |first1=Paul |last2=J. Casey |first2=Michael |date=Sep 19, 2014 |title=BitBeat: More Pain For Bitcoin Prices; Are Chinese Miners To Blame? |work=The Wall Street Journal |url=https://blogs.wsj.com/moneybeat/2014/09/19/bitbeat-more-pain-for-bitcoin-prices-are-chinese-miners-to-blame/ |access-date=August 4, 2017 |archive-date=November 11, 2020 |archive-url=https://web.archive.org/web/20201111202135/https://blogs.wsj.com/moneybeat/2014/09/19/bitbeat-more-pain-for-bitcoin-prices-are-chinese-miners-to-blame/ |url-status=live }} Reuters,{{Cite news |last=Forgione |first=Sam |date=Feb 11, 2014 |title=Bitcoin plunges after marketplace indefinitely halts withdrawals |work=Reuters |publisher=Reuters |url=https://www.reuters.com/article/us-investing-bitcoin-idUSBREA191Y220140211 |access-date=July 5, 2021 |archive-date=August 17, 2016 |archive-url=https://web.archive.org/web/20160817153348/http://www.reuters.com/article/us-investing-bitcoin-idUSBREA191Y220140211 |url-status=live }} The New York Times,{{Cite news |last=Ember |first=Sydney |date=July 1, 2014 |title=Single Winner of All Bitcoins in U.S. Auction |work=The New York Times |url=https://dealbook.nytimes.com/2014/07/01/single-winner-of-all-bitcoins-in-u-s-auction/ |access-date=March 5, 2017 |archive-date=November 12, 2020 |archive-url=https://web.archive.org/web/20201112023937/https://dealbook.nytimes.com/2014/07/01/single-winner-of-all-bitcoins-in-u-s-auction/ |url-status=live }} CNBC,{{Cite news |last=Rosenfield |first=Everett |date=Aug 13, 2014 |title=Bitcoin gets bit by a summertime swoon |publisher=CNBC |url=https://www.cnbc.com/2014/08/13/bitcoin-gets-bit-by-a-summertime-swoon.html |access-date=September 9, 2017 |archive-date=November 29, 2014 |archive-url=https://web.archive.org/web/20141129095244/http://www.cnbc.com/id/101916834 |url-status=live }} and Bloomberg News.{{Cite news |last=Dougherty |first=Carter |date=Feb 7, 2014 |title=Bitcoin Price Plunges as Mt. Gox Exchange Halts Activity |publisher=Bloomberg |url=https://www.bloomberg.com/news/2014-02-07/bitcoin-price-falls-as-mt-gox-exchange-halts-activity.html |access-date=2017-03-06 |archive-date=2015-01-09 |archive-url=https://web.archive.org/web/20150109121827/http://www.bloomberg.com/news/2014-02-07/bitcoin-price-falls-as-mt-gox-exchange-halts-activity.html |url-status=live }}
State of Bitcoin report
In February 2014, CoinDesk released its first 'State of Bitcoin' report. The aim of the report is: to provide an overview of key cryptocurrency trends, challenges, and opportunities, while also highlighting the most important developments over the last year.{{Cite news |last=Del Rey |first=Jason |date=Feb 27, 2014 |title=(Almost) Everything You Want to Know About Bitcoin, in One Report |work=Re/Code |url=http://recode.net/2014/02/27/almost-everything-you-want-to-know-about-bitcoin-in-one-report/ |access-date=October 10, 2014 |archive-date=April 22, 2016 |archive-url=https://web.archive.org/web/20160422050246/http://recode.net/2014/02/27/almost-everything-you-want-to-know-about-bitcoin-in-one-report/ |url-status=live }} A follow-up report in Q2 2014 highlighted that venture capital investment in bitcoin companies was up 28 percent compared to the previous quarter,{{Cite news |last=Carson |first=Biz |date=July 11, 2014 |title=This week in bitcoin: VC investment is up and shows no signs of stopping after Xapo |publisher=Gigaom |url=https://gigaom.com/2014/07/11/this-week-in-bitcoin-vc-investment-is-up-and-shows-no-signs-of-stopping-after-xapo/ |access-date=October 10, 2014 |archive-date=January 25, 2021 |archive-url=https://web.archive.org/web/20210125115806/https://gigaom.com/2014/07/11/this-week-in-bitcoin-vc-investment-is-up-and-shows-no-signs-of-stopping-after-xapo/ |url-status=dead }} and that VC investment was pouring into European Bitcoin startups.{{Cite news |last=Wile |first=Rob |date=July 11, 2014 |title=Investors Are Plowing Into European Bitcoin Firms Faster Than Any Other Region In The World |work=Business Insider |url=https://www.businessinsider.com/europe-bitcoin-investment-surge-2014-7 |access-date=October 10, 2014 |archive-date=March 7, 2019 |archive-url=https://web.archive.org/web/20190307173755/https://www.businessinsider.com.au/europe-bitcoin-investment-surge-2014-7 |url-status=live }}
References
{{Reflist}}
External links
- {{Official website|https://www.coindesk.com/}}
{{Bitcoin}}
{{Cryptocurrencies}}
Category:Internet properties established in 2013
Category:Cryptocurrency in the United States