CoinDesk to Move Into Same Building as Owner Digital Currency Group

Employees at cryptocurrency news publication CoinDesk were told Tuesday that the firm is moving into office space in the same building as its parent company, Digital Currency Group, a transition that will take place in March 2020.

In his email to employees, Silbert specified that CoinDesk's new offices would be on a separate floor of the building from DCG. The 9,000 square foot space was formerly used by Luminary Media, a podcast streaming platform.

He said: "I absolutely believe having CoinDesk in the same building is a critical step for the sustained growth of DCG and CoinDesk."

CoinDesk has maintained offices in a separate building from DCG ever since the industry investment firm, which has stakes in more than 145 crypto and blockchain-focused startups, acquired CoinDesk in late 2015 from founder and angel investor Shakil Khan.

The firm was subsequently run by CoinDesk Managing Director Ryan Selkis, formerly director of growth at DCG. He was later succeeded by Kevin Worth, CoinDesk's CEO. A preliminary decision to approve the move announced Tuesday was reached on Aug. 14 between Worth and members of DCG. News of that decision quickly spawned an internal meeting on Aug. 26 at which Worth took questions from CoinDesk staff about the proposed decision.

"These costs include the possible reputational damage to CoinDesk, a deterioration of reader trust and an opening for competitors to undermine our standing as the industry's leading news provider. The move would also make it harder for us to recruit and retain top talent, and it would make it more difficult to work with diverse sources across the industry, who may not want to attend a meeting in the same building as DCG.".

"CoinDesk will continue to produce the finest independent journalism in the industry. In preparation for the office move in 2020, earlier today I asked some of our editorial colleagues to form a committee that will recommend specific principles and controls to maintain the complete editorial independence of CoinDesk. I look forward to receiving those recommendations."

After all, what did I know about building a media business? I ignored the naysayers because I believed in CoinDesk and its essential voice in the industry.

As we continue the evolution of making CoinDesk the essential publication for global investors, several aspects of the business will intersect with DCG. If we decide to make acquisitions that would bolster the data, content, video, or podcast capabilities of CoinDesk, it would be DCG doing the diligence and making the acquisition.

I absolutely believe having CoinDesk in the same building is a critical step for the sustained growth of DCG and CoinDesk.