CoinGecko co-founder and CEO Bobby Ong has publicly denied rumours of a potential sale at a valuation of around $500 million. In response to the social media buzz, Ong reiterated the company’s strong position, emphasizing its vision for long-term growth.
Ogg’s statement comes amid growing speculation of the crypto aggregator’s potential sale. Reports, citing unnamed sources, claimed that CoinGecko is currently engaged in early discussions for a $500 million deal.
However, the CoinGecko chief’s denial highlights the company’s commitment to the crypto space. It also indicates that the firm is poised to remain a leader in the space for a long period.
No Sale: CoinGecko Breaks Silence on Rumours
Amid growing speculations, CoinGecko co-founder and CEO Bobby Ong shared a critical statement, outlining the company’s vision for long-term success. Deying rumors of a possible sale, Ong posited that the company focuses on strong business operations and developments. Ong rejected the sale rumours and stated,
“After nearly 12 years of building CoinGecko as a bootstrapped company, one question I’m often asked is what the future holds. What I can share today is this: CoinGecko is operating from a position of strength. We’re growing, profitable, and seeing increasing demand from institutions as traditional finance embraces crypto.”
Reports stated that CoinGecko has appointed investment bank Moelis as an advisor, exploring the opportunities of a potential sale. The reports also suggested that the company is already in discussions for a $500 million deal.
Further, the CEO explained the platform’s regular evaluation of different strategic options. He believes that such reviews are necessary for the company’s sustainable growth, benefiting the platform and the users alike. He noted,
“Like any well-managed company at this stage, we regularly evaluate strategic opportunities that could help us accelerate our growth and strengthen the value we deliver – to the millions of users who rely on our platform and to our expanding base of enterprise clients.”
Reinforces Market Focus
Moreover, the CoinGecko CEO reiterated the company’s focus on transparency. The company’s mission to deliver unbiased, high-quality cryptocurrency data will remain unchanged, stated Ong.
He also elaborated on the broader trends of the crypto market. He highlighted the potential establishment of clearer regulatory frameworks and growing institutional participation across the world. Highlighting his commitment to the market and users, he noted, “We’re excited about the possibilities ahead and remain focused on serving our users while continuing to build CoinGecko for the long term.” Ong added,
“The crypto industry is maturing fast. Regulatory clarity is improving. Institutional adoption continues to pick up momentum. We’re excited about the possibilities ahead and remain focused on serving our users while continuing to build CoinGecko for the long term.”
However, his statement does not clearly state whether CoinGecko is planning a sale. The co-founder neither confirms nor denies the rumour. Despite this lack of clarity, experts believe that the platform is not in discussions as the CEO has highlighted its long-term growth potential.
His statement also reinforces the platform’s position as a major player in the crypto space. It also highlights the company’s focus on maintaining confidence in its services, addressing the community’s concerns.
