In response to recent reports that TheBlock and CoinDesk are planning to sell significant stakes worth $60 million and $125 million respectively, TheBlock's CEO Larry has denied the rumors, affirming that these claims are untrue.
TheBlock and CoinDesk, two prominent crypto media platforms, were recently rumored to be selling more than 50% of their shares, according to two sources. TheBlock was allegedly selling shares worth $60 million, while CoinDesk was said to be selling a $125 million stake in the Digital Currency Group (DCG) for a total valuation of over $200 million.
However, TheBlock CEO Larry has dismissed these rumors, stating, "That's not true." Furthermore, it was reported that Alameda, a leading liquidity provider, had loaned $27 million to Michael McCaffrey for the acquisition of TheBlock before 2023. It is currently unclear whether any stake sale would be related to the repayment of this debt to Alameda.
Despite the rumors surrounding the sale of significant stakes in the crypto media outlets, TheBlock's CEO has outright denied the claims. The connection of these rumors to Alameda's debt repayment and the financial future of TheBlock and CoinDesk remains uncertain. Executors and stakeholders in both platforms continue to focus on delivering unbiased and relevant news and insights to the rapidly growing crypto and blockchain community.