It is an open fact that these days global markets are facing tough times to survive in the midst of the coronavirus pandemic but the crypto Industry is getting stronger as the leading experts have witnessed one of the biggest crypto mergers.
Binance the leading cryptocurrency exchange has come up with an agreement to attain CoinMarketCap which is one of the referred crypto data websites , in a private deal. The companies have announced about the acquisition to Cointelegraph on April 2.
The Founder and CEO of Binance, Changpeng Zhao announced that Binance and CoinMarketCap are a way similar as they both are ‘access-to-crypto’ providers with a vision of making crypto assets accessible and productive for people around the globe.
Zhao said that with the acquisition, both will be able to build strength for each other leading to develop and instill transparency in the industry. Zhao also said that the company was in talks with CoinMarketCap for the last months before closing the deal in April month. If rumors are to be believed, the acquisition costs Binance $400 million, but Zhao denied to disclose the amount of the deal as it is protected by a non-disclosure agreement. Call on Binance customer care number which is functional all the time for guidance. Talk to the team for availing fruitful results immediately.
CMC will operate independently
Though both the companies are going to work together, CMC is going to function as an independent business entity, both the companies have made it clear. Zhao emphasised that the acquisition is not going to change CMC’s independence from external stakeholders: Binance has no stand on CoinMarketCap rankings . CMC is going to be committed to serve the accurate, timely and quality cryptocurrency data in the industry at the same time would be benefited from Binance’s expertise, resources and scale.
Though CMC is going to go through a few internal restructuring as a part of the deal. The CMC’s Founder, Brandon Chez will step down as CEP and will be replaced by the current Chief Strategy Officer, Carylyne Chan as interim CEO. Besides reshuffle, CoinMarketCap is not going to see any changes in its team in the coming future, or at least for the next few months. Chan told Cointelegraph that – there are not going to be any changes at CoinMarket Cap. Every one will stay and they are happy what is happening .
CoinMarketCap can remain neutral regarding project listings
As per Chan, Binance assured that CMC can stick to its own listing methodology. The interim CEO told Cointelegraph that firm is not planning any sufficient listing changes in near future. The company is going to stick to its own listing requirements and making sure that everything is fair and unbiased to anyone who wants to list anything on CMC. Call on Binance support phone number which is functional all the time for guidance. You can reach the team anytime to deal with queries that exist in user’s account while trading on the Binance exchange.