Binance to Acquire CoinMarketCap in $400M Deal

Just when you thought Binance couldn’t possibly do anything big this month, it sneaks in a mammoth before April Fool’s Day.

According to The Block, Binance, the world’s largest cryptocurrency exchange by volume, is in the final stages of acquiring crypto data site CoinMarketCap.

The cash-and-stock deal could be one of the biggest in the crypto space, with the exchange looking to pay up to $400 million for the data aggregating site.

Binance CEO Changpeng “CZ” Zhao hinted at two “major” acquisitions during his New Year’s message, saying that while they always “have a number of strategic acquisition discussions in the works, a couple of them are major and will have a significant impact.” Buying CoinMarketCap would certainly fit that description.

As The Block notes, Binance has been on a buying spree lately, snapping up at least nine companies in 2019. Only a few were made public, such as its acquisition of Indian cryptocurrency exchange WazirX and its purchase of blockchain data startup DappReview.

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