Binance Acquires the World’s Most Popular Crypto Data Tracking Site, CoinMarketCap

News / 02.04.2020

Crypto exchange giant, Binance has announced today that it has recently completed the acquisition of the world’s most popular crypto data tracking site, CoinMarketCap. This is one of the biggest acquisition in the crypto space, as it combines two of the most trusted brands in the industry. This acquisition deal will introduce significant opportunities to the growth of the crypto industry and even further.

As part of the acquisition deal, CoinMarketCap will stay committed to providing the most accurate, quality and timely crypto data in the industry while benefiting from Binance’s resources. In addition, CoinMarketCap founder, Brandon Chez will be stepping down as the company’s CEO. However, he will still stay around as an advisor for the company. Meanwhile, the current Chief Strategy Officer of CoinMarketCap, Carylyne Chan has been appointed as the interim CEO.

According to Chez, there are several teams in the crypto space that could acquire CoinMarketCap. However, he believes Binance is one of the very best options for the acquisition. He claims the Binance team has proven beyond reasonable doubts that they care about their users and will do their very best for them, even in difficult times.

Speaking on this acquisition, Binance CEO, Changpeng Zhao (CZ) said the core DNA of CoinMarketCap is strongly aligned with Binance’s ethics and culture. He said the common vision of both companies will be strengthened by this acquisition to further grow and instill transparency in the crypto industry. He added that, Binance plans to empower CoinMarketCap to continue to provide the best quality of service for its users and the global community.

Chan also expressed his delight about Binance’s acquisition of his company. According to Chan, CoinMarketCap has remained neutral in their provision of services by avoiding censorship and judgement of projects listed on its platform. Adding that, the company is delighted that the Binance team has been definite in ensuring that it continues to adhere to their traditional methodology.

Featured image courtesy of Binance Blog. Source: Cryptopress.

Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.