In light of its parent company, Digital Currency Group's (DCG), plans to introduce strategic investors, CoinDesk has made the decision to terminate 45% of its editorial staff. The media company will convene an all-staff meeting at 4:00 PM Eastern Time to discuss the layoffs. According to insiders, the company will let go of 20 individuals, constituting 45% of its editorial team.
Earlier in July, it was reported that CoinDesk was on the brink of finalizing a $125 million deal with a consortium led by cryptocurrency investor Matthew Roszak of Tally Capital. As part of the transaction, DCG would retain ownership of shares in the media assets, which encompass event, data, and index-related services.