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Binance Announces Possible Purchase of CoinMarketCap


Binance Announces Possible Purchase of CoinMarketCap

Binance – arguably the largest and most popular crypto trading platform in the world in terms of market volume – has purchased the crypto data firm CoinMarketCap.com for approximately $400 million.

Binance Has Engaged in a Big Buy

While the deal is not fully set in stone, an announcement is expected to be made by the end of this week or no later than early next week. Binance CEO Changpeng Zhao teased the merger earlier in the year, explaining to users via newsletter: As the saying goes, when you can’t beat them, buy them. When we identify top talent with a top product that we cannot beat, and the teams share common values, a merger makes sense in most cases. There are always several deals being discussed at any given time, and there are two that I am very excited about specifically. We will announce them in due time. The purchase is indeed a big one, but it’s got a lot of people concerned about the future. Larry Cermak, director of research at The Block, explained in a statement that he feels the merger is likely to negatively impact the site’s ability to report coin data. He said: Read More...