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CoinDesk’s New Owner Bullish Replaces CEO in Restructuring

Sara Stratoberdha replaces Kevin Worth, who has led CoinDesk since 2017.

By Sam Kessler, Danny Nelson|Edited by Marc Hochstein
Updated Mar 8, 2024, 9:18 p.m. Published Feb 9, 2024, 12:52 a.m.
Kevin Worth, former CEO of Coindesk (Shutterstock/CoinDesk)
Kevin Worth, former CEO of Coindesk (Shutterstock/CoinDesk)

CoinDesk’s longtime CEO Kevin Worth is out amid a major restructuring initiated by the media, events and information company’s new owner, Bullish Group, which operates the Bullish crypto exchange.

In Worth's place, the parent company has appointed Sara Stratoberdha, who previously ran business development for Bullish.

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"CoinDesk will remain an independent subsidiary of Bullish and Sara is committed to maintaining CoinDesk's journalistic independence and integrity," a CoinDesk spokesperson said.

The shakeup, which comes two months after Bullish Group acquired CoinDesk from its embattled former owner Digital Currency Group, affects much of CoinDesk’s leadership.

Other departures include Chief Operating Officer and President of Media Elinor Hirschhorn, Vice President of Engineering John DeGuenther and Executive Director of Global Strategy Emily Parker.

Chief Content Officer Michael Casey no longer has a full-time role, but is in discussions with Bullish to stay on board with CoinDesk in some other capacity.

CoinDesk and Bullish employees were informed of the changes via a memo on Thursday from Bullish CEO Tom Farley, who said the restructuring was designed to shift CoinDesk’s media, indices and events businesses into a flatter organizational structure. Some CoinDesk functions, such as Human Resources, will now report to their equivalents at Bullish. CoinDesk’s tech and product teams will also be integrated with Bullish, said Farley.

"Kevin and the leadership team oversaw the evolution of CoinDesk into a leading global media company, effected the sale to Bullish, and successfully integrated the two companies. We thank them and wish them well,” Farley said in a statement shared with CoinDesk.

“Sara and the CoinDesk leadership team are thrilled about the opportunity to invest in and grow CoinDesk’s media, events, and indices.”

Sam Kessler

Sam is CoinDesk's deputy managing editor for tech and protocols. His reporting is focused on decentralized technology, infrastructure and governance. Sam holds a computer science degree from Harvard University, where he led the Harvard Political Review. He has a background in the technology industry and owns some ETH and BTC. Sam was part of the team that won a 2023 Gerald Loeb Award for CoinDesk's coverage of Sam Bankman-Fried and the FTX collapse.

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Danny Nelson

Danny was CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.

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Danny Nelson

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
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