Binance May Acquire CoinMarketCap for $400 Million
By Marko Vidrih on The Capital
Binance is in the final stages of negotiations to acquire CoinMarketCap. It is reported by The Block.
According to The Block sources, the exchange can pay $400 million for the most popular cryptocurrency data aggregator. The deal, which could be one of the largest acquisitions in the crypto industry, is expected to be announced this week.
This year, Binance CEO Changpeng Zhao said the exchange is negotiating two major acquisitions that will have a “significant impact” on the industry. The acquisition of CoinMarketCap may be one of these two deals.
According to SimilarWeb, CoinMarketCap is the most popular crypto data aggregator that has attracted 207.2 million visitors over the past six months. Over the past six months, Binance has attracted 113.8 million visitors. Sources told The Block that CoinMarketCap traffic is one of the main reasons for the acquisition.
Last year, the crypto exchange acquired at least nine companies, but only a few transactions were announced publicly. These include — Trust Wallet cryptocurrency wallet, DappReview blockchain startup; WazirX Indian crypto exchange and JEX derivative platform.
Other major transactions in the crypto industry today are: the acquisition of the Poloniex crypto exchange by Circle for $400 million; the acquisition of the Bitstamp crypto exchange by the investment company NXMH for $400 million; the acquisition of the Earn.com platform by the cryptocurrency company Coinbase for $120 million; and the acquisition of the Kryptan Crypto Facilities platform for $100 million.
Author: Marko Vidrih
Featured image credit: Pixabay
