Happy Tuesday Blockfolians
The Block is reporting that Binance is on the verge of buying CoinMarketCap for something in the range of $400 million. When completed, it will represent one of the largest crypto acquisitions to date. The motivations could be driven by traffic, with CMC having 80% more than Binance.
It could be driven by revenue - with estimates of CMC’s annual ad revenue at between $25-$40m (not bad for never taking any funding). It could be data; it could be a power play; it could be some combination of all of these. Whatever the case, it certainly has the whole crypto world watching.
Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.
Highly Relevant Reading
Coinbase confirmed anecdotal reports that retail customers had increased buying during the last month’s market dip
Vitalik suggests that Ethereum 2.0 multiclient testnets are coming in April
CPAs are worried about incorrectly calculated tax liabilities for their clients
The Mt. Gox saga continues with yet another delay to the rehabilitation proceedings.
The Tezos Foundation has more than $600m in assets. DCG’s Larry Sukernik argues this is a misallocation of resources.
Wilson Withiam @WilsonWithiam.@TezosFoundation holds a massive amount of capital ($635M) per its latest biannual report, but what stands out is its active approach to portfolio management The foundation dialed back its exposure to crypto, liquidating ~7,500 BTC and adding more conservative investments 1/ https://t.co/z4whGjhomg
Digital art is getting more interesting by the day
A Really Big Number We Should Be Paying Attention To
Those are the gains early investors in Polychain would have seen if they were able to ride the rollercoaster.
The WFH vibe has even hit avatars.