Bullish crypto exchange’s senior executive has been appointed as new CEO of CoinDesk

Bullish bought CoinDesk from DCG conglomerate CEO Barry Silbert last November

09.02.2024 - 09:30

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What’s new? CoinDesk’s CEO Kevin Worth has stepped down amid a major restructuring initiated by the publication’s new owner, crypto exchange Bullish. In his place was appointed Sara Stratoberdha, who previously led business development at Bullish. The media representative emphasized that Stratoberdha intends to preserve the “journalistic independence and integrity” of the publication.

CoinDesk’s material

What else is known? CoinDesk and Bullish employees were informed of the changes on February 8 in a memo from Bullish head Tom Farley. He explained that the restructuring is designed to move CoinDesk’s media, indices, and events “into a flatter organizational structure.”

Some of the publication’s divisions, such as HR, will now report to similar departments at Bullish. CoinDesk’s tech and product teams will also be integrated with the parent company.

The changes affect much of the publication’s management team. Specifically, Chief Operating Officer Elinor Hirschhorn, Vice President of Engineering John DeGuenther, and Executive Director of Global Strategy Emily Parker have left their positions.

Chief Content Officer Michael Casey is no longer working full-time but is in talks with Bullish to remain at CoinDesk in another position.

Kevin Worth, who resigned, has been the head of CoinDesk since 2017.

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The team has also pledged to refund 100% of the funds to affected users

Bullish, led by former NYSE US stock exchange president Tom Farley, bought CoinDesk outright for an undisclosed amount in cash from conglomerate Barry Silbert’s Digital Currency Group (DCG) last November.

In January, CoinDesk launched the CoinDesk 20 Index, tracking the largest and most liquid cryptocurrencies. Bullish also launched index-linked perpetual futures.

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