Pressure of Truth
The news, with the spin made visible.
Outlet profile

Decrypt

U.S. crypto/Web3 industry trade press

Owned byDASTAN (holding company formed by merger of Decrypt Media and Rug Radio, announced December 2023, finalized early 2024); Josh Quittner (Decrypt co-founder) serves as Chairman, Farokh Sarmad (Rug Radio co-founder) as President, and Loxley Fernandes as CEO
FundingVenture capital and crypto-industry investors (including Hack.VC, HashKey Capital, Canvas Ventures, Protocol Labs, SK Group); advertising; Web3 ecosystem revenue including an ad-tech network built on the Arbitrum blockchain
On the administrationmostly neutral

Background

Decrypt was founded in 2018 by Josh Quittner, Ilan Hazan, and Ryan Bubinski, with seed backing from ConsenSys Mesh, a blockchain incubator tied to Ethereum co-founder Joseph Lubin. The outlet positioned itself as a mainstream-readable guide to crypto, blockchain, and Web3, distinguishing itself from purely speculative price-tracking sites. In 2022 it spun out of the ConsenSys orbit after raising $10 million at a $50 million valuation, with a range of crypto-industry venture funds as investors. In December 2023 Decrypt announced a 'merger of equals' with Rug Radio, a decentralized media platform for Web3 creators, forming a new parent company that became known as DASTAN. The merged entity operates Decrypt's editorial brand alongside Rug Radio and a prediction-market product called Myriad. Throughout its existence Decrypt has maintained a newsroom of professional journalists and has covered industry scandals, regulatory actions, and fraud alongside promotional or explanatory coverage—reporting, for example, on insider trading allegations tied to Trump-linked meme coin operators. Its structural embeddedness in the crypto industry—through investor relationships, token-based revenue experiments, and audience alignment—gives it an industry-insider orientation even when its individual stories meet journalism standards. Its annual revenue at the time of the DASTAN merger was approximately $3 million.

Sources

  1. Exclusive: Crypto media site Decrypt merges with decentralized media firm Rug Radio
  2. Decrypt Media Inc. and Rug Radio Merge to Create Global Web3 Publishing Company
  3. Decrypt and Rug Radio merge to form DASTAN
  4. Decrypt, Rug Radio to combine in 'merger of equals'
  5. Crypto publication Decrypt raises $10 million at $50 million valuation
  6. Trump Discloses Over $1.2 Billion in Crypto Earnings, $50M in Bitcoin Holdings
  7. Co-Founder of Crypto Firm Behind Trump, Melania Tokens Resigns Amid Insider Trading Allegations
  8. Decrypt – Crunchbase Company Profile & Funding

Profile compiled 2026-07-19; refreshed when ownership, funding, or the administration changes.

← Back to track record