Hot Development: Binance Confirms It Has Bought CoinMarketCap

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Binance cryptocurrency exchange fell like a bomb with a claim made a few days ago. It was stated that Binance will purchase CoinMarketCap, one of the most popular cryptocurrency price and data tracking platforms, for $ 400 million and the deal has come to an end.

Binance also confirmed the purchase first-hand with an announcement on Twitter. Although the price of 400 million dollars was specified in the first claim made by The Block, it was stated that the agreement was closed to 300 million dollars by a source close to the subject. The talks are known to have been going on since November 2019.

Binance will also change its entire business model after purchasing CoinMarketCap. CMC, which normally pursues an advertising-oriented business model, will now switch to a model where exchanges pay listing fees. It was reported that the payment of the agreement was made with Binance Coin (BNB).

The idea of ​​purchasing CoinMarketCap is among the information conveyed that one of the founders was taken to Changpeng Zhao.

See Also  Binance CEO Answered Questions About CoinMarketCap

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