CoinMarketCap to Remain ‘Independent’ as Binance Confirms Acquisition

Source: Adobe/mehaniq41

Significant crypto exchange Binance validated that it has actually gotten CoinMarketCap, including that the greatest crypto market information supplier will continue to be run as an independent business entity.

The business did not reveal any other information of the offer.

Brandon Chez, the creator of CoinMarketCap, will be stepping down as CEO and will be changed by Carylyne Chan, the existing Chief Method Officer, as interim CEO, according to journalism release. Chez is preparing to concentrate on his family after 7 years of running the business and will remain as a consultant to the business, itadded


CoinMarketCap stated it means to broaden its details offerings to consist of trading items such as futures, choices, loaning, and “more value-added data analytics and tools.”

“While the Binance cryptocurrency exchange and its native token BNB are listed on CoinMarketCap, CoinMarketCap and Binance are separate entities that maintain a strict policy of independence from one another: Binance has no bearing on CoinMarketCap rankings, while CoinMarketCap has no influence over Binance’s operations,” both business stated.

CoinMarketCap was established in 2013 and is headquartered in Dover, Delaware, according to Crunchbase.

Market information companies ranked by sees in February:

Business Global Rank Variety Of Sees in February Modification Given That January Nation of A Lot Of Visitors
CoinMarketCap 1,733371 million +9.11% U.S. 14.38%
CoinGecko 8,432 8.35 million +5.7% Russia 10.47%
Cryptocompare19,453 3.2 million +3.2% U.S. 14.41%
Coinpaprika68,848940,000 +6.8% Poland 32.18%
Messari226,520210,000 -4.54% U.S. 35.72%

In January, Changpeng Zhao, CEO of Binance, exposed that the business remains in talks over 2 “major” acquisitions which “will have a significant impact.” The CEO did not define any even more at that time.

According to public records, in the last twelve months, Binance got 3 other business.

Date Business Market Rank Daily Trading Volume Base Offer Size
September 2019 JEX (now Binance JEX) Derivatives platform48 Area; 296 Futures (According to Coinpaprika) USD 168.2 M Area; USD 477,320 Futures Singapore Concealed
November 2019 WazirX Crypto exchange151 (According to Coinpaprika) USD 796,370 India Presumably USD 5-10 million
December 2019 DappReview Database platform for decentralized applications20,754 (Classification Rank, SimilarWeb) China Concealed

Likewise, to name a few financial investments, Binance made an undefined “strategic equity investment” into FTX, a crypto derivatives platform, in December.

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