Cryptonary Buys Out Silent Partners

Cryptocurrency-focused media and research company Cryptonary has acquired the shares of its original co-founders, who became silent partners in the company after its re-brand in 2019. The valuation and specifics of the buyout have not been disclosed.

Founded in 2017, and originally based in London (now fully remote), Cryptonary provides in-house crypto research, analysis, news and podcasts, and educational videos to help consumers understand the cryptocurrency market. The company generates revenue by charging a monthly fee for access to its research, and says on an average day its content is seen by up to 500,000 people.

After the re-brand the original co-founders, whose named have not been disclosed, retained a 30% stake in the company but ceased to be involved in its day-to-day running. Explaining the reasons behind the buyout, the firm said in a statement that when a company grows very fast, it 'quickly becomes clear that people have different visions for what they want in their business', adding that the buyout will help achieve full control, introduce staff benefits, and provide more expansion options.

Karim Abuzeineh (pictured), who co-founded the rebranded business, comments: 'Crypto is very complex, and it's coming to replace the boring boomer TradFi system. Our goal is to help advance this industry forward; we can only do that when the entire team is aligned'.

Web site: www.cryptonary.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.