CZ responded that it would not acquire the encrypted media CoinDesk

On March 14, according to the report of Blockworks that “CoinMarketCap under Coin An has shelved the acquisition of CoinDesk, the encrypted media”, CZ, the CEO of Coin An, responded on Twitter, “It is not ‘shelving’. It is not buying. It may be a good business. But it is not suitable for our geographical coverage”.

Interpretation of this information:

The recent news about CoinMarketCap’s decision to not proceed with the acquisition of CoinDesk, an encrypted media company, has been making rounds in the crypto industry. According to Blockworks’ report, CoinMarketCap, which is owned by Coin An, has decided to shelve the acquisition deal. However, CZ, the CEO of Coin An, has taken to Twitter to clarify their stance on the matter.

In his tweet, CZ emphasized that the decision to not acquire CoinDesk was not a matter of “shelving” the deal but rather a conscious choice not to pursue it. He explained that while the media company could potentially be a good investment, it was not suitable for their geographical coverage.

This statement raises questions about Coin An’s expansion strategy and the factors they consider when deciding to invest in a particular venture. Perhaps, they prioritize regions in which they have a stronger presence, or they focus on industries that align with their overall business goals.

Moreover, CZ’s tweet also reflects the growing trend of crypto-related companies expanding their business beyond the traditional finance sector. Acquiring a media company like CoinDesk would have given Coin An access to a broader audience and diversified their revenue streams. However, as CZ pointed out, this move may not fit with their current trajectory, and they may have other plans for growth.

In summary, the news that CoinMarketCap decided to not acquire CoinDesk has sparked discussions about Coin An’s expansion strategy and the factors they consider when making investment decisions. CZ’s tweet clarified that the decision was not a matter of shelving the deal, but rather a choice not to pursue it due to geographical coverage. This move highlights the growing trend of crypto companies seeking to expand their business beyond traditional finance and diversify revenue streams.