What will happen to CoinMarketCap after being acquired by Binance?

Three weeks after Binance announced its acquisition of data website CoinMarketCap in early April, Binance CEO Changpeng Zhao publicly solicited user feedback on CoinMarketCap on Twitter.

Founded in 2013, CMC has prices, circulation and other indicators of 5,290 cryptocurrencies and is popular among individual investors. Zhao Changpeng said at the time, "CoinMarketCap's core DNA is highly consistent with Binance's ethics and culture. This acquisition will strengthen our shared vision to further develop and maintain transparency in the industry. This will enable us to develop together based on each other's strengths and jointly serve as infrastructure providers for cryptocurrencies."

After the acquisition, many crypto investors were worried that Binance would affect the fairness of CoinMarketCap. CoinMarketCap responded on Twitter that it would continue to operate as an independent business entity after the acquisition and Binance would not unilaterally change its business model.

But just this week, Zhao Changpeng tweeted, “It’s time for community feedback. What improvements, additions, or deletions would you like to see on CoinMarketCap?”

This tweet sparked heated discussions in the crypto community after it was sent out. As of press time, it has received more than 1,500 comments, more than 200 retweets, and more than 1,300 likes.

Some users responded that they hope CoinMarketCap will delete cryptocurrencies suspected of fraud, some suggested deleting the fake trading volume of the exchange, and some users suggested providing a free API.

CoinMarketCap said it had forwarded the suggestions to the team for consideration and responded to some of the questions. It said users can check the liquidity indicators of the exchange to determine false transactions, and its API is still free.

Among all the replies, the one with the most likes was a comment about "delisting BSV." Earlier, BitPush reported that Binance Exchange delisted Bitcoin SV, which is supported by Craig Wright, who claims to be the creator of Bitcoin, Satoshi Nakamoto.

CoinMarketCap CEO Carylyne Chan said that CoinMarketCap is undergoing a smooth transition under the leadership of Binance. She said, "We can leverage Binance's expertise, which is really beneficial to CoinMarketCap."

Image source: CoinMarketCap

AuthorLiang Che

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