CoinDesk – Wikipedia

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Website about bitcoin and digital currencies, owned by Digital Currency Group

CoinDesk is a news site specializing in bitcoin and digital currencies. CoinDesk also provides guides to bitcoin for those new to digital currencies.[1] Founded by Shakil Khan, the site was subsequently acquired by Digital Currency Group.

History[edit]

CoinDesk was founded by entrepreneur Shakil Khan and began publishing in May 2013.[2] Khan is also an investor in BitPay,[3] a bitcoin payment processor.

At the start of 2016, CoinDesk was acquired by Digital Currency Group for an estimated US$500,000–600,000.[4] The next year, in 2017, the company acquired blockchain data and research platform Lawnmower.[5] In 2021 the company acquired cryptocurrency data analytics firm TradeBlock.[6]

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.[7][non-primary source needed]

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.[8][9][10]

Consensus Event[edit]

Consensus is the biggest blockchain event every year and is organized by CoinDesk. It has been held in New York City from 2017 to 2022.

Bitcoin Price Index[edit]

The CoinDesk Bitcoin Price Index (CoinDesk BPI) was launched in September 2013.[11] 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,[12] 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”.[13] 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”.[14]

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”.[15][needs update]

Publications which have referenced the Bitcoin Price Index data or price include the BBC,[16]The Wall Street Journal,[17]Reuters,[18]The New York Times,[19]CNBC,[20] and Bloomberg News.[21]

State of Bitcoin report[edit]

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.[22] A follow-up report in Q2 2014 highlighted that venture capital investment in bitcoin companies was up 28 percent compared to the previous quarter,[23] and that VC investment was pouring into European Bitcoin startups.[24]

References[edit]

  1. ^ Summers, Nick (August 21, 2013). “Baffled by the world of Bitcoin? This beginner’s guide will tell you everything you need to know”. The Next Web.
  2. ^ Cutler, Kim-Mai (May 1, 2013). “Angel Investor, Spotify Fixer Shakil Khan Launches Coindesk, A Bitcoin Resource”. TechCrunch.
  3. ^ Olanoff, Drew (Jan 7, 2013). “BitPay Banks $510K In Investment To Become PayPal for Bitcoin, Already Has 2,100 Businesses On Board”. TechCrunch.
  4. ^ Matney, Lucas (13 January 2016). “CoinDesk Gets Acquired By Digital Currency Group”. TechCrunch. Retrieved 26 April 2018.
  5. ^ Roberts, Daniel (January 30, 2017). “The biggest bitcoin news site bought the best bitcoin data app”. Yahoo! Finance.
  6. ^ Vigna, Paul (January 5, 2021). “CoinDesk Buys TradeBlock, Joining Rush for Bitcoin Analytics”. Wall Street Journal.
  7. ^ “CoinDesk Korea Website”.
  8. ^ Allison, Ian (2 November 2022). “Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet”. CoinDesk. Retrieved 9 November 2022.
  9. ^ Macheel, Tanaya. “Bitcoin briefly touches a new low for the year, FTX token plunges more than 75% in broad crypto sell-off”. CNBC. Retrieved 2022-11-18.
  10. ^ Darcy, Oliver (November 24, 2022). “How a scoop by a little-known crypto site led to the fall of Sam Bankman-Fried and implosion of FTX”. CNN Business. Retrieved December 25, 2022.
  11. ^ Del Rey, Jason (September 11, 2013). “What’s a Bitcoin Really Worth? CoinDesk Thinks It Has the Answer”. All Things D.
  12. ^ Matonis, Jon (September 11, 2013). “CoinDesk launches proprietary Bitcoin Price Index”. CoinDesk.
  13. ^ “About the Bitcoin Price Index”. CoinDesk. CoinDesk.
  14. ^ Forgione, Sam (Feb 11, 2014). “Bitcoin plunges after marketplace indefinitely halts withdrawals”. Reuters. Reuters.
  15. ^ Casey, Michael J.; Vigna, Paul (Mar 12, 2014). “BitBeat: Coindesk Index Finds a Mt. Gox Replacement”. The Wall Street Journal.
  16. ^ “Bitcoin price falls to 11-month low”. BBC. Oct 6, 2014.
  17. ^ Vigna, Paul; J. Casey, Michael (Sep 19, 2014). “BitBeat: More Pain For Bitcoin Prices; Are Chinese Miners To Blame?”. The Wall Street Journal.
  18. ^ Forgione, Sam (Feb 11, 2014). “Bitcoin plunges after marketplace indefinitely halts withdrawals”. Reuters. Reuters.
  19. ^ Ember, Sydney (July 1, 2014). “Single Winner of All Bitcoins in U.S. Auction”. The New York Times.
  20. ^ Rosenfield, Everett (Aug 13, 2014). “Bitcoin gets bit by a summertime swoon”. CNBC.
  21. ^ Dougherty, Carter (Feb 7, 2014). “Bitcoin Price Plunges as Mt. Gox Exchange Halts Activity”. Bloomberg.
  22. ^ Del Rey, Jason (Feb 27, 2014). “(Almost) Everything You Want to Know About Bitcoin, in One Report”. Re/Code.
  23. ^ Carson, Biz (July 11, 2014). “This week in bitcoin: VC investment is up and shows no signs of stopping after Xapo”. Gigaom.
  24. ^ Wile, Rob (July 11, 2014). “Investors Are Plowing Into European Bitcoin Firms Faster Than Any Other Region In The World”. Business Insider.

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