Binance negotiating deal to buy CoinMarketCap for up to 400 million dollars

Binance negotiating deal to buy CoinMarketCap for up to 400 million dollars

By ManBad | ManBads | 1 Apr 2020


Binance is a site that almost everyone is familiar with, and they are in the closing stages of a 400 million dollar deal to acquire CMC (CoinMarketCap). Binance's CEO has said that they are working on 2 big deals and this is most likely one of them, as it will be one of the largest deals in crypto history. 

What could this mean for Binance and CMC?

CMC Drew in around 210 million visitors the last six months (according to This article by The Block). And Binance around 110 million (according to the same article). Though Binance is the most popular crypto exchange currently. And this acquisition would help them very much with maintaining that position, since its competitor, Coinbase, is only around 1% behind in traffic share. If Binance chooses to make CMC a subsidiary site, they could draw in a lot of new traffic and users. 

According to Alexa, CMC places #570 in the list of all global websites, which is very impressive. Binance being in place #1,691. 

 

Binance on road to 'world domination' 

In an article from BTCPeers, Tony Lai is quoted as saying 

"Binance wants to dominate the crypto industry and the acquisition of Coinmarketcap is just another step in their world domination strategy."

This sounds as the case, Binance CEO Changpeng Zhao has said that Binance made "No less than 9 full acquisitions" but that only a few have been publicly announced. 

 

In conclusion

This could have interesting effects on Binance and the crypto industry as a whole. And I'm excited to see where this leads and the other acquisitions by Binance that have not been announced yet. 


ManBad
ManBad

Crypto amateur enthusiast, music lover and aspiring journalist.


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