{"id":3903,"date":"2020-04-12T14:30:48","date_gmt":"2020-04-12T14:30:48","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=3903"},"modified":"2020-04-12T14:32:16","modified_gmt":"2020-04-12T14:32:16","slug":"binance-just-bought-coinmarketcap","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/binance-just-bought-coinmarketcap\/","title":{"rendered":"Binance just bought Coinmarketcap"},"content":{"rendered":"
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The largest cryptocurrency exchange by market volume has acquired popular data site CoinMarketCap (CMC) for an undisclosed price, the companies announced Thursday. Binance CEO Changpeng \u201cCZ\u201d Zhao told CoinDesk the deal closed March 31, although a verbal agreement had been reached \u201ca few months ago.\u201d<\/p>\n<\/div>\n

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With its extensive (although\u00a0often questionable<\/a>) 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.<\/a>\u201cIt\u2019s a really good website and I think we can help grow it further,\u201d Zhao said in an interview with CoinDesk Thursday, adding he had no immediate plans for CMC. Zhao said the domain will remain independent from Binance under a holding company, perhaps staving off concerns over potential conflicts of interest.<\/p>\n<\/div>\n

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Industry veterans told CoinDesk they see a future where CMC could serve as a marketing channel for Binance, steering prospective customers toward the exchange. Zhao, on the other hand, characterized it as a simple, albeit large, purchase of a cash-flow positive asset.<\/p>\n<\/div>\n

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\u201cIt\u2019s by far the largest we have done so far,\u201d he said of the deal.<\/p>\n