The Crypto Industry’s $400M Cash and Stock Deal - Binance to Acquire – Bitcoin News


The Crypto Industry’s $400M Cash and Stock Deal - Binance to Acquire

The popular cryptocurrency exchange Binance is allegedly in talks with the owners of in hopes of purchasing the website for $400 million. People familiar with the matter explained the acquisition will be announced this week and could be one of the largest procurements in the cryptocurrency and blockchain industry to-date.

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Binance Will Reportedly Purchase for $400 Million

Binance has grown quite large since launching in 2017 when the global cryptocurrency exchange was founded by Changpeng Zhao (CZ) and Yi He. The following year in 2018, the exchange was considered the largest in the world in terms of cryptocurrency trading volume. The firm has also acquired the Indian exchange Wazirx, the Beijing-based Dappreview, a derivatives exchange called JEX, Mars Finance, and a digital currency mobile wallet branch called Trust Wallet. Now according to people familiar with the matter, Binance is set to announce another acquisition and it might end up being the largest procurement in the crypto industry so far.

The Crypto Industry’s $400M Cash and Stock Deal - Binance to Acquire
Reports detail that Binance will announce the acquisition of (CMC) later this week.

The official story floating around crypto-land is that Binance is close to completing a cash and stock deal with the owners of The website is one of the most popular cryptocurrency data sites and according to Alexa ratings, is ranked 570 worldwide and 819 in the United States. Coinmarketcap (CMC) gets a lot of traffic from countries like the U.S., India, and Brazil as the site sees millions of users visiting the site regularly. The Binance acquisition of is ostensibly a cash-and-stock deal that involves $400 million. Speculators assume that it will be the largest acquisition within the cryptocurrency and blockchain industry to date. For instance, the transaction would be well over the capital injected into 21 Inc. ($121 million), otherwise known as

The Crypto Industry’s $400M Cash and Stock Deal - Binance to Acquire
CMC sees millions of users visiting the site regularly. According to Alexa ratings, is ranked 570 worldwide and 819 in the United States.

CMC’s Data Discrepancies and the Crypto Community’s Commentary Concerning the Binance Takeover

Both Binance and have not spoken to the media about the acquisition, but Binance CEO Changpeng Zhao did hint at some upcoming procurements that he was “very excited” about. Coinmarketcap has an interesting history as the owner Brandon Chez kept his identity unknown, up until he was doxxed by the Wall Street Journal on January 23, 2018. Chez also sat down for a fireside chat with the anonymous Sunny King last year during The Capital conference.

Coinmarketcap has had its share of controversy as well and a number of people do not trust the data that stems from the site. The crypto market cap aggregation website was criticized during the first week of January 2018 for delisting the exchange rates of South Korean crypto trading platforms. When cross-referencing’s data with alternative crypto market valuation sites like, there’s some discrepancies when it comes to “reported” and “real” or onchain trade volumes.

The Crypto Industry’s $400M Cash and Stock Deal - Binance to Acquire
The acquisition for $400 million might be the largest in the cryptocurrency and blockchain industry to date. Social media posts and forums show that most crypto enthusiasts have been joking about the procurement in a negative fashion.

After the Binance acquisition of (CMC) stories hit social media and crypto forums, a great number of digital asset proponents discussed if it would be “good or bad” for CMC. “I don’t like it at all — I guess I’ll continue to use my favorite CMC alternatives,” one person tweeted after hearing the news.

“CMC has been bad for years — The amount of scams they’ve allowed to advertise on their site has been awful. Hopefully [Changpeng Zhao] changes that,” another crypto proponent added. A great number of the comments on Twitter were negative and many people talked about the relationship between Tron and Binance as well.

“Binance buying [] — How long until BNB and Tron are #1 and #2 and Digibyte is delisted?” the Twitter account @Litecoinfam tweeted on Tuesday.

Tags in this story
21 inc, 400 million, BCH, Binance, Bitcoin, bitcoin cash, BTC, Changpeng Zhao, CMC,, comments, Cryptocurrency, Digital Assets,, tron, Twitter, Wazirx, website

What do you think about the possibility of Binance acquiring Let us know in the comments below.

Jamie Redman

Jamie Redman is the News Lead at News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, CMC, Binance, Twitter

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