CoinDesk

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CoinDesk
Coindesk-logo.png
Type of businessSubsidiary
HeadquartersNew York, NY,
U.S.
Area servedWorldwide
Founder(s)Shakil Khan
EditorMarc Hochstein
IndustryDigital currency
Employees15+
ParentDigital Currency Group
URLcoindesk.com
LaunchedMay 2013; 9 years ago (2013-05)

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 serial entrepreneur Shakil Khan and began publishing in May 2013.[2] Khan is also an investor in BitPay,[3] a bitcoin payment processor. In September 2013, Jon Matonis, former executive director of the Bitcoin Foundation, joined CoinDesk as a contributing editor.[4]

In January 2016, CoinDesk was acquired by Digital Currency Group for an estimated amount of US$500K-600K.[5]

In January 2017, the company acquired Lawnmower, a blockchain data and research platform.[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]

In January 2021, the company acquired TradeBlock, a cryptocurrency data analytics firm.[8]

Bitcoin Price Index[edit]

The CoinDesk Bitcoin Price Index (CoinDesk BPI) was launched in September 2013.[9] 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,[10] 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".[11] 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".[12]

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".[13][needs update]

Publications which have referenced the Bitcoin Price Index data or price include the BBC,[14] The Wall Street Journal,[15] Reuters,[16] The New York Times,[17] CNBC,[18] and Bloomberg News.[19]

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.[20] A follow-up report in Q2 2014 highlighted that venture capital investment in bitcoin companies was up 28 percent compared to the previous quarter,[21] and that VC investment was pouring into European Bitcoin startups.[22]

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. ^ Bradbury, Danny (September 9, 2013). "Jon Matonis joins the CoinDesk team". CoinDesk.
  5. ^ Matney, Lucas (13 January 2016). "CoinDesk Gets Acquired By Digital Currency Group". TechCrunch. Retrieved 26 April 2018.
  6. ^ Roberts, Daniel (January 30, 2017). "The biggest bitcoin news site bought the best bitcoin data app". Yahoo! Finance.
  7. ^ "CoinDesk Korea Website".
  8. ^ Vigna, Paul (January 5, 2021). "CoinDesk Buys TradeBlock, Joining Rush for Bitcoin Analytics". Wall Street Journal.
  9. ^ Del Rey, Jason (September 11, 2013). "What's a Bitcoin Really Worth? CoinDesk Thinks It Has the Answer". All Things D.
  10. ^ Matonis, Jon (September 11, 2013). "CoinDesk launches proprietary Bitcoin Price Index". CoinDesk.
  11. ^ "About the Bitcoin Price Index". CoinDesk. CoinDesk.
  12. ^ Forgione, Sam (Feb 11, 2014). "Bitcoin plunges after marketplace indefinitely halts withdrawals". Reuters. Reuters.
  13. ^ Casey, Michael J.; Vigna, Paul (Mar 12, 2014). "BitBeat: Coindesk Index Finds a Mt. Gox Replacement". The Wall Street Journal.
  14. ^ "Bitcoin price falls to 11-month low". BBC. Oct 6, 2014.
  15. ^ Vigna, Paul; J. Casey, Michael (Sep 19, 2014). "BitBeat: More Pain For Bitcoin Prices; Are Chinese Miners To Blame?". The Wall Street Journal.
  16. ^ Forgione, Sam (Feb 11, 2014). "Bitcoin plunges after marketplace indefinitely halts withdrawals". Reuters. Reuters.
  17. ^ Ember, Sydney (July 1, 2014). "Single Winner of All Bitcoins in U.S. Auction". The New York Times.
  18. ^ Rosenfield, Everett (Aug 13, 2014). "Bitcoin gets bit by a summertime swoon". CNBC.
  19. ^ Dougherty, Carter (Feb 7, 2014). "Bitcoin Price Plunges as Mt. Gox Exchange Halts Activity". Bloomberg.
  20. ^ Del Rey, Jason (Feb 27, 2014). "(Almost) Everything You Want to Know About Bitcoin, in One Report". Re/Code.
  21. ^ Carson, Biz (July 11, 2014). "This week in bitcoin: VC investment is up and shows no signs of stopping after Xapo". Gigaom.
  22. ^ Wile, Rob (July 11, 2014). "Investors Are Plowing Into European Bitcoin Firms Faster Than Any Other Region In The World". Business Insider.

External links[edit]