A group of investors are reportedly nearing a deal to acquire crypto media outlet Cryptox for $125 million.
According to the Wall Street Journal citing “people familiar with the matter,” the investor group is led by Matthew Roszak, founder and CEO of crypto and web3-focused investment firm Tally Capital, and Peter Vessenes of the family office, Capital6.
Cryptox is a subsidiary of the parent company Digital Currency Group (DCG), which bought the media outlet for $500,000 in 2016. However, amid the issues surrounding DCG, which is also facing a lawsuit from Gemini for alleged fraudulent activities, Cryptox said it had received offers from buyers who wished to purchase the firm.
The crypto media company was first said to be in acquisition talks in January 2023. One of the interested buyers was Cardano founder Charles Hoskinson, who said he wanted to purchase the crypto media company to restore journalistic integrity.
Meanwhile, Binance CEO Changpeng Zhao refuted reports about Binance Capital Management’s (BCM) interest in acquiring Cryptox. According to Zhao, the cryptocurrency media publication will not be a great fit for Binance’s geographic coverage.
