According to rumors, Binance has paid about $ 400 million to buy CoinMarketCap. Binance CEO Changpeng Zhao, also known as CZ, has announced a CoinMarketCap (CMC) buyout. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner. Zhao acknowledged CMC’s shortcomings, saying the firm “needs to resolve” numerous issues and “make the product better over time.” That responsibility falls to Chan and her team, though, he said. Chan said the firm will continue to alter its infamous advertisement structure, but will still host paid-marketing for other exchanges. Independence. The live Burency price today is $0.148823 USD with a 24-hour trading volume of $22,194,705 USD. That’s compared to Binance and rival exchange Coinbase at 1,688 and 1,562, respectively. Her specialties include cryptocurrency news writing and analysis. Binance accepts a wide range of currencies and makes it easy for you to buy crypto using US Dollars, Euros, Pound Sterling, and other fiat currencies. Binance Coin is up 5.04% in the last 24 hours. BUY Price Live Data. supply of 170,532,785 BNB coins. Binance needs the traffic to jolt its US exchange, which only gets about 340,000 monthly visitors. Founders and investors interviewed by CoinDesk gave differing opinions on the plausibility of the figure; some said it sounded too high, others thought it was too low. But I think we should give the team a chance,” he said. “The initial reaction might be to look at other data providers/platforms as comparables, but because of all the nuances/differences among them, I don’t think it’s very useful to do that until we get a better understanding of what the plans are for CMC,” Liberman said. This field is for validation purposes and should be left unchanged. Watch later. With the sale, Chez is stepping down. CMC sits in an awkward spot after its acquisition. I think they’ll try to preserve CMC’s reputation.”. A Bitwise report published last year revealed that some statistics on the site were wildly inaccurate. CoinMarketCap is part of the Binance ecosystem and family. Binance will reportedly be paying up to $400 million to buy CoinMarketCap, the most popular cryptocurrency data aggregator. By Tim Copeland. Binance Coin. It warned that some of the data gave users a false impression of the actual size of the bitcoin market. Binance CEO Changpeng Zhao, has tried to mollify fears by assuring the crypto community that the site will stay independent from the parent company. “Opportunity came along.” (Chan now joins Binance.US CEO Catherine Coley as one of two female chief executives running firms connected to the exchange in a historically male-dominated industry.). It has a circulating supply of 193,878,224 BUY coins and a max. Binance confirmed that it acquired CoinMarketCap, a popular cryptocurrency analytic portal. By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy. Binance CEO Changpeng “CZ” Zhao told CoinDesk the deal closed March 31, although a verbal agreement had been reached “a few months ago.”. Andy Cheung, former chief operating officer at OKEx and founder of crypto derivative platform ACDX, was more critical in his assessment. The Binance and CoinMarketCap logos (Photo: Binance). While both Chan and Zhao declined to give actual figures for the acquisition, citing non-disclosure agreements, Zhao confirmed it was Binance’s biggest acquisition to date. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Zhao hinted at the coming acquisition, along with one other unannounced purchase, in a New Year’s Day blog post. Lennix Lai, director of financial markets at OKEx, said it was good to see such large M&A deals in the context of a “bearish market in crypto.”. He also said that CMC’s summer 2019 capitalization was estimated at $650 million, suggesting the reported $400 million offering was a bargain. The crypto trade-volume and statistics aggregator joins a growing list of companies acquired by the gargantuan Binance crypto exchange over the past two years. For such price to be reached, Binance was probably in a race against another third party to buy it (Coinbase maybe?) Cheung even saw it as a blow to Zhao’s cult of personality. The CoinMarketCap news comes in the wake of another unprecedented move by Binance to start a mining pool. Industry veterans told CoinDesk they see a future where CMC could serve as a marketing channel for Binance, steering prospective customers toward the exchange. It has a circulating supply of 153,432,897 BNB coins and a max. A bitcoin price jump is expected due to the resulting BTC coin scarcity. The circulating supply is not available and a max. Tap to unmute. Copy link. supply of 110,000,000 FROG coins. It is the bidder and bidding price that makes this acquisition so remarkable. Binance Buy CoinMarketCap.Com for $400,000,000 #CryptoNews #Binance #Coinmarketcap #Investing. Binance to acquire CoinMarketCap in $400 million deal The largest crypto exchange is set to buy the largest crypto data site. For any news tips or coverage, you can reach out and engage with her on Twitter at @Lizbarret001. Binance to Buy CoinMarketcap at $400 Million. “We would love to keep him, but he wants to take a break and, given the size of the deal, it makes total sense,” Zhao said. “Stronger agreements” could be put in place to “protect [exchanges’] interest as well,” she acknowledged. Each has its own goals and targets. CoinMarketCap (CMC), the popular cryptocurrency market cap rankings website is on the verge of a landmark takeover bid by Binance. “Binance is incentivized to keep this service transparent so that they don’t lose their investment. And if it doesn't, Binance made a bad business decision, and will lose market share to a competitor. The largest cryptocurrency exchange by market volume has acquired popular data site CoinMarketCap (CMC) for an undisclosed price, the companies announced Thursday. Share. CoinMarketCap added a buy crypto option, sponsored by Binance and linking to the exchange. According to reports Binance is slated to pay at least $400 million to seal the deal. The cryptocurrency exchange Binance is reportedly negotiating to purchase the cryptocurrency price and data tracking platform CoinMarketCap, and negotiations are about to be completed. Although it is typically the first port of call for small retail buyers, institutional investors spurned the website, particularly after Bitwise’s SEC report. The move has sparked concern among industry experts due to Binance’s growing influence in the space. See the advantages and disadvantages... Celsius recently celebrated a $1B in deposits milestones in crypto interest accounts, and Alex Mashinsky dropped knowledge... Ethereum (Ether) launched mid-2015 but quickly surpassed the market cap of all other cryptocurrencies—except for Bitcoin. Even so, he doubled down on April 2, announcing that Binance has bought CoinMarketCap, which is far and away the best-known and most heavily trafficked site for tracking the price of cryptocurrencies and other industry data. DecryptMedia. As such, many rival exchanges linked to CoinMarketCap are likely to be uncomfortable with the current arrangement. “In a sense, it’s in our interest to continue to be neutral and to be transparent and independent,” Chan said. In addition, the acquisition gives the company access to sensitive competitor data, which is now at risk of being manipulated. supply of 700,000,000 BUY coins. Big players investing back into key infrastructure is healthy for crypto, Lai said, even if warranting skepticism. The company’s tagline is “exchanging the world.”. Where Can I Buy Dogefather (DOGEFATHER) And he’s struggled to monetize for years,” the investor said. There is bound to be a conflict of interest as the agency also owns the BNB Coin. “That data is now being given to a competitor with surveillance abilities. Cryptocurrency exchange house Binance is said to be finalizing negotiations to buy cryptocurrency ranking website CoinMarketcap. Binance Will Reportedly Purchase Coinmarketcap.com for $400 Million. Burency is up 3.37% in the last 24 hours. Win win win no matter what. He is currently under quarantine due to the coronavirus pandemic together with his family. Chan said Chez’s focus remains on his family during the coronavirus crisis and subsequent quarantine he and his family currently live under. Yes, we bought CoinMarketCap. Dogefather launched on Binance Smart Chain main network on Apr-28-2021 06:48:38 AM +UTC with 1,000,000,000,000,000 tokens as starting supply, and 62.2049% of the total supply already burnt as of 3rd May 2021. Binance is one of the largest crypto exchanges in … The current CoinMarketCap ranking is #3014, with a live market cap of not available. So, let’s clarify it. It’s easy to see, then, why CoinMarketCap’s status as the first landing page for retail investors would be attractive to Zhao despite his past criticisms of CMC for its data quality. He added that it’s best to wait and see on Binance’s relationship with CMC rather than cast stones early. Read more: We Still Don’t Know Bitcoin’s Real Volume. In this guide, we've compared the key differences of Bitcoin and Litecoin. Most likely, Coinmarketcap will become even better. Binance to Buy CoinMarketCap: CZ Announces Buyout, Crypto Market Concerns Emerge. For CMC, the acquisition follows a ride through choppy waters. For his part, Chez – the sole shareholder of CMC – walks away from crypto with a big chunk of change in his pocket – fiat or otherwise. Binance wants to acquire Cryptocurrency Market Ranking Site Coinmarketcap. Binance CEO Changpeng Zhao, also known as CZ, has announced a CoinMarketCap (CMC) buyout. One Silicon Valley crypto investor speaking on the condition of anonymity doubted the reported $400 million buyout figure and said the overall deal “feels like a favor” to CMC founder Chez. CoinMarketCap has, in the past, suffered data transparency issues. Binance bought nine separate entities last year alone and plans to onboard 180 fiat currencies by the end of 2020 in an aggressive push to sign up retail customers. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. But is that good for the industry? Zack Seward, David Pan and Anna Baydakova contributed reporting. 'The Block' were the first to release the info about Binance acquiring CoinMarketCap. The firm quickly became both the dominant data source and go-to platform for asset pricing in the nascent industry. Independence means different things to different people. Binance to Buy CoinMarketCap: CZ Announces Buyout, Crypto Market Concerns Emerge, Litecoin vs Bitcoin: Comparing Two of The Most Popular Cryptocurrencies, Crypto Interest Account Pioneer Alex Mashinsky and Takes on Big Finance, How to Buy Ethereum and Best Exchange Ratings, Top Cryptocurrency Interest Accounts 2021: Best Rates, Security, and Promos, 5 Best DeFi Aggregators: How to Make DeFi (a Bit) Less Complicated. Binance volume degli scambi e quotazioni di mercato | CoinMarketCap Binance Futures Launches Monday & Tuesday Bounty! They include DAppReview, and JEX. Binance will pay $ 400 million to CoinMarketCap for the deal, according to the news that The Block is based on knowledgeable sources. When not writing about crypto, she’s out taking part in humanitarian endeavors across the world. Amazon’s Alexa ranks CMC as the 570th most visited website globally in the last 90 days. For example, BlockFi and Celsius offer around 8.6% to 11% APY on stablecoins, which digital assets pegged to the…, Elizabeth Gail is a crypto-enthusiast and blogger. Binance to Buy CoinMarketCap: CZ Announces Buyout, Crypto Market Concerns Emerge Binance CEO Changpeng Zhao, also known as CZ, has announced a CoinMarketCap (CMC) buyout. The next closest data provider is CoinGecko at 7,350. Two days earlier the rumors about the deal leaked to the media. “CZ has been telling everyone, ‘We are not here for the money and building something bigger and meaningful for humanity.’ Now I’m disappointed, I hope I am wrong and he has a better reason behind” the purchase, he said. There is no word on the size of the buyout, but conservative estimates range between $400 million and $650 million. According to the report by the Block, Binance CEO Changpeng Zhao is negotiating with CoinMarketCap management to buy the website for insane … Zhao’s purchase also caps CMC’s journey, from a scrappy outfit run out of founder Brandon Chez’s apartment to a property coveted by an industry leader. All of the firm’s roughly 40 employees – minus Chez, who will stay on as an advisor – will join the 930-person Binance staff, Zhao said. Binance just bought the top of the funnel. CoinGecko, which is a primary competitor, has about 8 million unique visitors. Binance, the global blockchain company behind the world’s largest digital asset exchange, has recently completed the acquisition of CoinMarketCap, the world’s most-referenced cryptocurrency data tracking site. Latest information from Binance indicates that … The feature is attached to Bitcoin, Ethereum, and Binance Coin. Elizabeth Gail. 2020-4-2. This is because it included wash-trading transactions, which are used to inflate trade volumes. By signing up, you will receive emails about CoinDesk products and you agree to our, The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a, Chinese Crypto Traders Are Pouncing on SHIB Coin Known as ‘Doge Killer’, Ethereum Classic Demand Coming From Traders Covering Borrowed Positions: FundStrat, Dfinity’s ICP Token Price Goes Live on Coinbase Pro, Ether Price Pushes Past $4K for First Time, Approaches JPMorgan’s Market Value, ‘Call Me the Dogefather’: Elon Musk Explains Crypto to SNL’s Audience, Crypto’s King Midas: Backstage With CZ, the CEO Who Can’t Be Stopped, For $15K, He’ll Fake Your Exchange Volume – You’ll Get on CoinMarketCap, founder of crypto derivative platform ACDX, inflated volumes on CMC for small-cap coins, We Still Don’t Know Bitcoin’s Real Volume, DAO Raises $7M to Acquire and Fractionalize NFT Collections, Solana Secures $60M Fund to Drive Growth in Emerging Markets, MoneyGram to Allow Bitcoin Buying and Selling Across Retail Network, Decentraland Founder Unveils Project of Bringing NFTs to ‘Big-Time’ Video Games, Coinbase, SoftBank Back $26M Funding for Brazilian Crypto Asset Manager Hashdex. “But honestly, how are you going to convince people that the rankings and volume are true when you’re operating an exchange and also probably the biggest holder of BNB?”. Binance has grown quite large since launching in 2017 when the global cryptocurrency exchange … The crypto trade-volume and statistics aggregator joins a growing list of companies acquired by the gargantuan Binance crypto exchange over the past two years. The crypto trade-volume and statistics aggregator joins a growing list of companies acquired by the gargantuan Binance crypto exchange over the past two years. Yan Liberman, principal at research and consulting firm Delphi Digital, said these larger acquisitions are good for the sector and show overall maturation. Nomics founder and CEO Clay Collins told CoinDesk that a certain degree of trust is necessitated between an exchange and a data provider; trust that “is likely to be eroded here” with CMC under the same roof as Binance. In fact, Zhao said he had pursued Chez for years. CoinCentral's owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. CoinMarketCap responded by introducing new statistical features such as the liquidity tool to allow users to make better-informed decisions. Please check for more details here. “People might have doubts about whether or not CMC could maintain its independence afterward. At…, The world’s best cryptocurrency interest accounts offer anywhere between 10x to up to 64x more APY than average interest-bearing accounts, making a strong case for how the cryptocurrency industry can disrupt the traditional financial services sector. Collins’ concerns were seconded by Alexei Andryunin, head of Gotbit, a Russian token and exchange promotion service. Rival exchanges reacted with mixed emotions at news of the deal, which could firmly outdistance Binance from the pack. Meanwhile, the purchase frees up elbow room for other data aggregators, particularly on the institutional side of the market, said Messari co-founder and CEO Ryan Selkis. Although CMC has struggled to monetize the traffic, Binance will be able to use the strong user base to gain greater exposure for its products. Info. Earlier this week, The Block reported the acquisition was in the works, and put the price tag at $400 million in cash and stock options, citing unnamed sources. That’s a polite way to describe the business, which Andryunin has candidly admitted inflated volumes on CMC for small-cap coins via wash-trading bots. To welcome first-time users, Binance Futures will reward its users with a $5000 Bonus Jackpot every Monday and Tuesday of the week. You can also use a wide range of accepted stablecoins such as Binance USD (BUSD), Coinbase USD Coin (USDC), PAXOS (PAX), Tether (USDT), and … With its extensive (although often questionable) data on prices, volumes and other metrics for 5,290 cryptocurrencies, CMC has served as a dragnet for retail investors since its launch in 2013. The CMC team is still intact, with the exception of founder Brandon Chez. The acquisition shows that while many firms looked to institutional players as crypto’s messiah in 2019 and even today, Zhao is pinning his hopes on a mass audience of individual investors after buying the most heavily trafficked website in the space. To welcome first-time users, Binance Futures will reward its users with a $5000 Bonus Jackpot every Monday and Tuesday of the week. “CoinMarketCap has more users than any other product in the crypto space,” Zhao said. However, while stating that the contract contains a clause that does not disclose details, Zhao said that he could not specify the amount to be paid. 3 min read. The crypto trade-volume and statistics aggregator joins a growing list of companies acquired by the gargantuan Binance crypto exchange over the past two years. Earnest conversations between CoinMarketCap and Binance date back to the data provider’s conference for investors in November 2019, said Chan. This landmark deal combines two of the most trusted brands in crypto and introduces some significant opportunities to grow the industry even further. The live Binance Coin price today is $662.12 USD with a 24-hour trading volume of $6,107,616,233 USD. Binance reportedly paid $400 million for the acquisition. “I can understand the business or potential profit,” Cheung said. CryptoFrog.Finance is the first collectible frog NFT and a yield farming project on Binance Smart Chain. In a massive $400 million bid, CoinMarketCap is at the final leg of being acquired by the biggest global cryptocurrency exchange, Binance.
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