CMC Management Resigns 4 Months After Binance Acquisition

By Abhimanyu Krishnan | News | 1 Sep 2020


Five members of CoinMarketCap’s management team have been let go by Binance, according to a report by The Block published on August 31.

  • Several executives are being replaced with Binance staff, including interim CEO Carylyne Chan
  • Other members that are leaving including the VPs of various departments, the global head of design and growth, and project lead
  • Binance acquired CoinMarketCap in March 2020, a move that was met with some criticism from the cryptocurrency community
  • Shortly after the acquisition, CoinMarketCap listed Binance Coin (BNB) as the top DeFi token, sparking discussions about partiality 
  • The CEO of CoinGecko, a similar platform for tracking tokens’ prices and data, has said that it would be difficult for CoinMarketCap to stay neutral after the acquisition
  • Binance is the only exchange on CoinMarketCap to receive a perfect web traffic score of 1000

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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