Binance confirms the acquisition of CoinMarketCap

The mastodon Binance has just formalized the acquisition of CoinMarketCap, an extremely popular website that tracks cryptocurrency prices.

A few days ago, information about the buyout of the website CoinMarketCap by Binance had leaked. Sources even said the operation could cost more than $ 400 million.

In a press release shared with Cryptaut, Binance has confirmed that it has completed the acquisition of CMC without however disclosing the amount of the transaction.

The basic DNA of CoinMarketCap is strongly aligned with Binance’s ethics and culture. Our common vision will be strengthened by this acquisition to continue growth and bring transparency to the industry, "said Binance CEO Changpeng Zhao.

Following the buyout, Binance plans to integrate new data on the website, especially on futures, options or even in the area of ​​lending (lending of cryptocurrencies).

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We learn that the crypto-exchange has appointed Carylyne Chan, responsible for strategy at CMC, as interim CEO. The CEO-founder of CMC, Brandon don, leaves the company to focus on his family.

I believe that of all the space teams that could acquire CoinMarketCap, Binance is one of the best options. They are a team that has demonstrated time and again that they care about their users and will do their best for them even in the most difficult times. This spirit will continue to echo our own user-centric philosophy at CoinMarketCap, ”said Chez.

Although the cryptocurrency refused to disclose the amount of the transaction, its CEO said it was the largest acquisition of Binance nowadays.

In recent months, the giant has got hold of several crypto-startups, including the portfolio Trust Wallet, the Indian exchange WazirX and the platform DAppReview.

CoinMarketCap would attract today between 30 and 40 million visitors every month, according to data from SimilarWeb.

Binance could establish itself as the favorite platform, positioning itself by default as the first stock exchange in the ranking, or use CMC as a funnel to get new users. While this decision may cause some to question CMC's ability to remain a neutral data provider, it could potentially be very productive for Binance, ”commented Nic Carter, co-founder of Coin Metrics, a site that also provides data for the cryptocurrency market.