CoinDesk CEO Kevin Worth Fired in Major Restructuring
CoinDesk’s CEO, Kevin Worth, has been fired as part of a significant restructuring effort. The decision was made by Bullish, the new owner of CoinDesk, who sought to reorganize the media, event, and information company. Sara Stratoberdha, previously in charge of business development at Bullish, will take over as the new CEO of CoinDesk.
“CoinDesk will remain an independent subsidiary of Bullish, and Sara is committed to maintaining CoinDesk’s journalistic independence and integrity.”
CoinDesk spokesperson
Other Key Departures in the Restructuring
In addition to Kevin Worth, several other key individuals have departed from CoinDesk. This includes 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 holds a full-time position but is in discussions with Bullish regarding another role at CoinDesk.
Past Layoffs and Acquisition Deal
Last year in August, CoinDesk laid off 20 employees (45% of its editorial staff) after Digital Currency Group, its parent company, announced plans to attract strategic investors. In late July, it was reported that Digital Currency Group was close to finalizing a $125 million deal with a syndicate led by crypto investor Matthew Roszak. As part of this deal, Digital Currency Group retains a stake in CoinDesk.
Completion of Bullish’s Acquisition
In November 2023, Bullish successfully completed its acquisition of CoinDesk. CoinDesk will continue to operate as an independent subsidiary under Bullish, with the existing management team remaining in place.
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