According to the foreign media The Block report, Binance is suspected of acquiring CoinMarketCap, an encrypted data platform, and negotiations are currently in its final stages. A person familiar with the matter revealed that the amount involved in the acquisition may reach $ 400 million. If the acquisition is completed, it will become one of the largest acquisitions in the crypto space.
Earlier this year, Binance Chief Executive Zhao Changpeng said he was "very excited" about the two ongoing acquisitions. CZ said at the time that these were "significant" and would have a "significant impact". CoinMarketCap transactions may be one of these two transactions. CoinMarketCap's ability to drive large amounts of traffic is one of the main reasons for this acquisition. CoinMarketCap was founded in 2013 by Brandon Chez, Delaware, USA.