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Cardano Co-founder Issues a Progress Report on CoinDesk Acquisition

On February 25, the cofounder of Cardano, Charles Hoskinson, updated the YouTube community on his progress of acquiring the leading crypto news site CoinDesk. In January, Hoskinson was among the bidders longing to acquire CoinDesk at its asking price of $200 million.

The crypto mogul revealed plans to integrate non-fungible tokens (NFT) and Web 3 technologies to restructure the news website. In his recent update, Hoskinson revealed to have signed a non-disclosure agreement with CoinDesk.

Hoskinson Reveals Plans to Acquire CoinDesk

The desire to acquire CoinDesk inspires Hoskinson to follow the acquisition process to win the bid. The race to be the best bidder has prompted the crypto mogul to close a non-disclosure agreement (NDA) with the CoinDesk group.

In his latest update at the ask-me-anything (AMA) program, Hoskinson failed to update the progress of the acquisition plan. The NDA condition discourages Hokinson from revealing further details. 

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According to Hoskinson’s February 25 report, he remains optimistic about acquiring CoinDesk to improve the firm’s performance. He plans to launch NFT projects on the CoinDesk platform to introduce virtual news coverage and improve user experiences.

Hoskinson React to Hearsays

In the meantime, Hoskinson is battling criticism in the crypto space following a tweet revealing his plans to acquire CNN. On February 25, Ross Calvin tweeted, revealing Hoskinson’s plans to launch a joint startup to acquire CNN.

Revolving on Calvin’s tweet, Hoskinson demonstrated no interest in acquiring CNN. He argued that if the CNN acquisition materializes, it will increase crypto growth.

At press time, Cardano’s native token ADA is valued at $0.3665, an increase of 2.6% in the last 24 hours. Its market capitalization is at $12,713,598,147, a 2.69% increase, while the trading volume dipped to $237,741,483 after experiencing a 16.68% drop within a day.


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Kimberly Crain

Kimberly Crain is a seasoned crypto trader and writer, offering valuable insights into the digital asset market. With expertise in trading strategies and a passion for blockchain technology, her concise and informative articles empower readers to navigate the evolving world of cryptocurrencies.

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