CoinDesk’s New Owner Bullish Replaces CEO in Restructuring

CoinDesk’s former CEO, Kevin Worth, has been replaced as part of a restructuring effort led by the crypto exchange Bullish, which recently acquired the media company. Sara Stratoberdha, who previously held a position in business development at Bullish, has been appointed as the new CEO of CoinDesk. The announcement emphasized that CoinDesk will remain an independent subsidiary of Bullish, with Stratoberdha committed to preserving its journalistic independence and integrity. Alongside Worth, other members of CoinDesk’s leadership team, including COO Elinor Hirschhorn, VP of Engineering John DeGuenther, and Executive Director of Global Strategy Emily Parker, have departed. Chief Content Officer Michael Casey’s role has been reduced, but discussions are ongoing with Bullish regarding his potential continued involvement in a different capacity. The restructuring aims to create a flatter organizational structure for CoinDesk’s media, indices, and events businesses. Some functions, such as HR, will now report to their counterparts at Bullish, and CoinDesk’s tech and product teams will be integrated with Bullish. In a statement, Bullish CEO Tom Farley expressed gratitude to Worth and the outgoing leadership team for overseeing CoinDesk’s growth, the successful sale to Bullish, and the integration of the two companies. Farley also expressed enthusiasm for the future under the leadership of Stratoberdha and the CoinDesk team, emphasizing their commitment to investing in and expanding CoinDesk’s media, events, and indices businesses.