A Historic Crypto Acquisition

CoinMarketCap joins the Binance empire

Happy Tuesday Blockfolians

The Lede

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.

Report: Binance Plots $400 Million Acquisition of CoinMarketCap ...

Source

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.

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