CoinDesk CEO Kevin Worth was fired as part of a large-scale restructuring.
According to CoinDesk, Worth, who has led crypto media since 2017, lost his job due to a restructuring initiated by the new owner of the media, event, and information company, cryptocurrency exchange Bullish. CoinDesk’s new CEO will now be Sara Stratoberdha, who previously led business development at Bullish.
“CoinDesk will remain an independent subsidiary of Bullish, and Sara is committed to maintaining CoinDesk’s journalistic independence and integrity.”
Other strategic departures include Chief Operating Officer Elinor Hirschhorn, Vice President of Engineering John DeGuenther, and Executive Director of Global Strategy Emily Parker.
Chief Content Officer Michael Casey no longer has a full-time position but talks with Bullish about remaining at CoinDesk in another capacity.
Last August, CoinDesk laid off 20 people, or 45% of its editorial staff, amid news that its parent company, Digital Currency Group, was planning to attract strategic investors.
In late July, The Wall Street Journal reported that the firm was close to a $125 million deal with a syndicate led by crypto investor Matthew Roszak of Tally Capital. As part of the deal, Digital Currency Group will retain a stake in the media property, which offers business offerings in the form of events, data, and indexes.
At the end of November 2023, Bullish completed its acquisition of CoinDesk. CoinDesk will operate as an independent subsidiary of Bullish, and CoinDesk’s current management team will remain in place.