Cryptocurrency media Decrypt has signed a letter of intent to merge with Rug Radio

2023-12-10 10:10:17

Collection

According to ChainCatcher news, as reported by axios, the crypto media Decrypt has signed a letter of intent to merge with the decentralized media company Rug Radio. The two companies will merge to form a new holding company, the specific name of which is yet to be determined, and both companies will retain their respective brands and independence. To facilitate such a fair transaction, the new holding company plans to collaborate exclusively with Arbitrum, and executives aim to complete the deal by early 2024, with the expectation that the transaction will not require regulatory approval.

The holding company will be chaired by Decrypt's current CEO Josh Quittner, while Rug Radio's current co-CEO Loxley Fernandes and founder Farokh Sarmad will serve as CEO and president of the new holding company, respectively. Investors from Decrypt and Rug Radio will retain shares in the new holding company.

(Source Link)

Related tags

Decrypt Rug Radio merge

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.