Binance, one of the largest cryptocurrency companies in the world, recently purchased CoinMarketCap for a fee of $ 300 million. While this move of the company was criticized by some names, it was supported by some names.
Binance CEO Changpeng Zhao held a live broadcast an hour ago and answered questions people asked him. As you can imagine, most of these questions were related to CoinMarketCap.
“Completed Months First”
Brandon Chez has succeeded in turning CoinMarketCap, which he founded years ago, into the industry’s largest platform after all this time. Chaz, which has become one of the most successful names in the sector, announced that it will leave the sector with this agreement.
One of the most curious crypto money followers was how Binance got CoinMarketCap and how this deal was made. According to the comments of Changpeng Zhao, CEO of Binance, this process actually went quite easily.
Changpeng Zhao stated that he had contacted Chez “a few months ago” and that Binance’s agreement to purchase CoinMarketCap was prepared “months ago”. According to his statements, his meetings with Chez were also very good. Zhao said that they have been trying to implement this agreement for several months and that they are evaluating the structure and future of CoinMarketCap.
“The Most Valuable Platform”
Binance, currently one of the largest stock exchanges in the industry, has paid a fee of around $ 300 million to purchase CoinMarketCap. One of the things people wondered was why Binance made such a decision.
According to Binance CEO Changpeng Zhao, the answer is clear: CoinMarketCap is the industry’s most valuable platform. We know that CoinMarketCap has more than 200 million visitors in the past 6 months. In comparison, Binance has around 100 million visitors to its site. According to Zhao, this means that CoinMarketCap is worth its price:
CoinMarketCap is the industry’s most valuable platform. This is the main reason we bought CoinMarketCap. We also want people to be able to learn more about cryptocurrencies more easily as we grow our ecosystem. CoinMarketCap contains a lot of information and data. ”
“We will not intervene”
People are more curious about what Binance will do to CoinMarketCap rather than the agreement process. But Changpeng Zhao says that not much will actually change.
Changpeng Zhao says that CoinMarketCap is a very valuable platform and does not want to corrupt it. According to Zhao’s statements, Binance’s main goal is to continue growing CoinMarketCap and not change the structure of CoinMarketCap in this process.
“I think CoinMarketCap is a very valuable platform. It is probably the most valuable platform in the industry due to the number of visitors it receives. We do not want to direct CoinMarketCap’s visitor traffic to Binance… As Binance, we will not make a special data flow to CoinMarketCap, we will not give them any advantage over their competitors. Meanwhile, CoinMarketCap will continue to support different exchanges and tokens from Binance. ”
“We Think Long Term”
Changpeng Zhao says that their plans for CoinMarketCap are definitely not short-term and they always think long-term.
Zhao states that trying to transfer CoinMarketCap’s traffic to Binance may disturb CoinMarketCap users and therefore they will not take such a step. According to his statements, CoinMarketCap will continue to act “independently” from Binance:
“We want CoinMarketCap to grow and become 10 times more valuable than the price we receive. As our ecosystem grows, we can provide special benefits to Binance Coin users, but we will not transfer CoinMarketCap traffic to Binance. This is a short-term plan. We think long term. ”