Binance announces completion of acquisition of CoinMarketCap, with transaction value of USD 400 million

Binance announced that it has officially acquired the cryptocurrency market website CoinMarketCap. The two parties did not disclose the amount of the acquisition, but the media said that according to sources, the acquisition cost $ 400 million. After the acquisition, CoinMarketCap will continue to operate as an independent entity. As part of the transition, CoinMarketCap founder Brandon Chez will step down as its CEO, with current chief strategy officer Carylyne Chan as interim CEO. After running the company for 7 years, Chez plans to return to the family, but will remain a CoinMarketCap consultant Post. SimilarWeb data shows that CoinMarketCap is the most popular encrypted data aggregation platform and has attracted 207.2 million visitors in the past six months. In contrast, Binance has 113.8 million visitors in the past 6 months. CoinMarketCap ’s traffic ratio Binance’s traffic is 80% higher. Previously, Lianwen had reported that the CoinMarketCap crypto index was launched on the Nasdaq, and Binance Zhao Changpeng had alluded to its use of the exchange.