Mon, June 05, 2023

Malta-Based Exchange Offers $400 Million for Crypto Site

Binance and its report

Crypto exchanges step-by-step continue to expand their services, as this industry has the potential to attract new clients. However, cryptocurrencies have to deal with various problems. It is quite hard to create a crypto exchange and such entities have to comply with strict regulations in countries around the world.

Moreover, as can be seen from the example of Facebook’s digital currency project Libra politicians are not ready to support such projects. However, despite all issues crypto industry is evolving and lawmakers and regulators should help such companies to achieve their goals.

Hopefully, crypto exchanges such as Binance plan to expand its services. People should keep in mind that Binance is the largest cryptocurrency exchange in the world.

Binance wants to buy popular crypto data site CoinMarketCap. Malta-based exchange is willing to pay as much as $400 million for the U.S.-based popular crypto data site. Binance plans to acquire the CoinMarketCap as this site has the ability to drive a significant amount of web traffic.

Crypto exchange and CoinMarketCapBinance and CoinMarketCap

In 2019, Binance made nine acquisitions. This exchange wants to enter new markets. For instance, in 2019 Binance started to offer its services in the U.S.

As stated-above Binance is ready to spend a lot of money. Nevertheless, not everyone supports this potential deal.

CoinMarketCap will no longer be impartial, according to Larry Cernak, The Block’s director of research. Nevertheless, this crypto data site already doesn’t have a good reputation among the crypto community.

Notably, this deal may become one of the largest deals in the history of the crypto industry, if Binance and CoinMarketCap would reach an agreement.

Cryptocurrencies slowly but steadily became part of the modern world. Binance as well other cryptocurrency exchanges have the opportunity to find new clients and CoinMarketCap may help, Binance to achieve this goal.


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