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Home»ADOPTION NEWS»Decrypt, Rug Radio combine in ‘merge of equals’: Axios
ADOPTION NEWS

Decrypt, Rug Radio combine in ‘merge of equals’: Axios

By Crypto FlexsDecember 10, 20232 Mins Read
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Decrypt, Rug Radio combine in ‘merge of equals’: Axios
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Crypto and Web3 news site Decrypt and decentralized creator-focused media project Rug Radio are set to merge their operations next year, combining forces while maintaining brand independence, according to a report from Axios.

The merger is viewed as complementary in that the text-heavy content on Decrypt’s website is paired with Rug Radio’s audio and video podcast content. Josh Quittner, CEO of Decrypt, Farokh Sarmad, founder and co-CEO of Rug Radio, and Loxley Fernandes, Rug Radio’s other CEO, will assume leadership positions at the new holding company.

The brand retains its brand, identity and employees. Each company claimed to make about $3 million a year in revenue from advertising sales and said its employees would remain with the organization after the merger, which Fernandez described as a “merger of equals.”

The announcement comes at a particularly active time for cryptocurrency media trading. Crypto exchange Bullish, run by former NSE chairman Tom Farley, recently acquired cryptocurrency news outlet CoinDesk in an all-cash deal, while Singapore venture capital firm Foresight Ventures recently acquired a majority stake in the site.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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