Coinbase Global, IncCOIN reportedly hired Lazard, Ltd LAZ advisors as it explored a potential sale that would remove it from Barry Silbert’s Digital Currency Group (DCG).
CEO Kevin Worth’s email acknowledged receiving numerous inbound indications of interest in CoinDesk, CNBC reports.
Worth said Lazard would help CoinDesk explore various options to attract growth capital to the CoinDesk business, which may include a partial or complete sale.
CoinDesk’s reporting flared a downward spiral at crypto exchange FTX, ultimately leading to its collapse in November, the arrest of Bankman-Fried, and multiple regulatory probes.
The contagion from the FTX meltdown hit CoinDesk sister company Genesis, a crypto lender owned by DCG that’s hired advisors for a potential bankruptcy filing.
In January, DCG suspended all dividend payments to its shareholders until further notice following contagion in the crypto space brought on by the bankruptcy of Sam Bankman-Fried’s FTX exchange.
Price Action: COIN shares closed lower by 7.26% at $50.21 on Wednesday.
