[Avalaxy]

400 Million?! Maybe I'm missing something, but last time I checked, CoinMarketCap was just a stock ticker website for cryptocurrencies. Where is the value...?

[gentaro]

You're underestimating the influence CMC has over the space.

They determine what exchange volume is legit and what isn't, also what coins are worthy of being listed. At the least, this gives Binance additional stability, at the most, they can really consolidate trading volume at their exchange and for Binance approved coins.

[Melting_Harps]

>They determine what exchange volume is legit and what isn't, also what coins are worthy of being listed.

Heh, well this aged well:

https://bitcoinist.com/coinmarketcap-new-listing-vote/

https://bitcoinist.com/binance-listing-2-6-million-fee/

[jcfrei]

The coinmarketcap volume is not legit at all. They created the adjusted volume metric but it's still plain wrong. They currently show a 24h volume of $112Bn and a total market cap of $182Bn - that's just ridiculous.

[tbronchain]

I have a theory: they [finance] have (more than) enough cash, and they don't want another exchange to acquire them [cmc] and have so much visibility.

It reminds me of ctrip buying Skyscanner, maybe soon a "buy with binance" button for each crypto? More visibility for their platform and BNB?

[basch]

Wouldnt it make as much sense to buy bitpay.com then? Buy something thats already deployed to many customers, and prevent competition from buying it.

[timcc50]

Huge amount of web traffic from crypto traders. I'd imagine they will direct those people to their exchange and make the money back in trading fees.

[Melting_Harps]

It already is the biggest Exchange by a large margin:

https://bitcoinexchangeguide.com/binances-crypto-exchange-ma...

You're telling me you think they'd drop $400 million in HOPES of just getting that back x-fold via trading fees via a convoluted Marketing scheme?

That's crazy, but hey... let me use CMC to see how many Alt's have a smaller Market cap than the recent $400 Million purchase price tag.

Edit: Forget that, that's a waste of time; I did some legwork on potential IP or exclusive deal and found this from 2 weeks ago:

> Crypto Briefing Announces Partnership Integrating Company's SIMETRI Digital Asset Ratings on CoinMarketCap

https://www.businesswire.com/news/home/20200317005241/en/Cry...

That makes more sense, if the assumption is that institutional level investment is primed to get in and CMC's SIMETRI rating system is the seen as the most trusted way in.

Which I have serious doubts given how so many Banks and Hedge Funds already have established systems in place. Fidelity being the most notable in the US for example, but are much larger outside of the US.