Binance Officially Acquires CoinMarketCap
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Cryptocurrency exchange Binance has announced it has acquired CoinMarketCap, a cryptocurrency data tracking platform for an undisclosed amount.

According to an official announcement, CoinMarketCap and Binance will remain to be separate entities that maintain a strict policy of independence from one another.

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The exchange has "no bearing on CoinMarketCap rankings," while CoinMarketCap has no influence over Binance’s services.

Binance CEO Changpeng Zhao says the exchange wants to empower CoinMarketCap to continue "to build innovative, useful products for its users and the global community."

As a result of the acquisition, CoinMarketCap’s current CSO Carylyne Chan has reportedly been named interim CEO.

"We are delighted that the Binance team has been unequivocal in ensuring that we can continue to adhere to our methodology without prejudice," Chan added.

Earlier iHodl reported that Binance was willing to pay for CoinMarketCap approximately $400 million.

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