Rumors Acquired by Binance, Coinmarketcap’s Reputation Can Be Tarnished?

The Binance crypto asset exchange is said to have bought the popular site Coinmarketcap for around US $ 400 million (Rp6.5 trillion). Larry Cermak, Director of Research at TheBlock, assessed that the acquisition could tarnish Coinmarketcap’s reputation.

“This will give birth to a conflict of interest. I am afraid Coinmarketcap will find it difficult to be impartial and potentially tarnish its reputation, “Larry said as quoted by Forbes this evening.

Eugene Ng, Head of Marketing for Matrixport also commented. He said the agreement made no sense.

“I bet Binance might work better without that acquisition. Coinmarketcap must be neutral and balanced, “he said.

Buy it if you can’t beat it
The step of acquisition by Binance to a number of companies is prevalent. For the CEO, Changpeng Zhao, the acquisition was extremely important.

“As the saying goes, when you can’t beat them, buy them. And this is true for all our acquisitions. When we recognize that there is another party’s advantage that we cannot defeat, the acquisition makes sense, ” Changpeng Zhao, January 29, 2019 .