Crypto News

Binance in talks to acquire CoinMarketCap for $400 Million

CoinMarketCap

The crypto exchange market Binance is already in the final stages of talking about acquiring CoinMarketCap. The crypto exchange is looking to pay as much as $400 Million for the deal.

The cash-and-stock deal is expected to be announced this week. When completed, that would make it one of the largest acquisitions in the crypto space. Just earlier this year, Binance CEO Changpeng “CZ” Zhao said that there are two acquisitions in the pipeline that he is “very excited” about. These are “major” and will have a “significant impact,” CZ said at the time. The CoinMarketCap deal could be one of those two deals.

CoinMarketCap’s ability to drive traffic is a significant reason to get acquired by Binance. The company was founded in 2013 by the anonymous Brandon Chez in Delaware, U.S. 

Binance, on the other hand, remains the most visited crypto exchange with about 22% traffic share. It is in a neck-and-neck competition with Coinbase, which has a share of about 21%. 

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