Binance Denies Blockworks Report on Acquisition.
Binance CEO Changpeng “CZ” Zhao recently denied the report from Blockworks that Binance was attempting to acquire CoinDesk through CoinMarketCap. According to CZ, the purchase price is expected to be closer to $75 million. Before this, Cardano founder Charles Hoskinson had expressed interest in acquiring CoinDesk, and this news has raised questions about the future of the exchange and the cryptocurrency markets.
The original report from Blockworks stated that Binance was attempting to acquire CoinDesk via CoinMarketCap for $400 million. However, CZ quickly denied these claims, saying the purchase price would be much lower. He clarified that the actual payment would be a combination of BUSD, BNB, FTT, and IOUs, with the total amount estimated to be closer to $2.1 billion.
CZ denied Blockworks’ report that Binance was trying to acquire CoinDesk via CoinMarketCap, with the actual purchase price expected to be closer to $75 million. The Cardano founder had earlier expressed interest in acquiring CoinDesk.
— Wu Blockchain (@WuBlockchain) March 14, 2023
Binance: Implications of the Denied Acquisition
The first implication of CZ denying the Blockworks report is that it could have a negative impact on Binance’s reputation. As one of the most trusted exchanges in the world, any news that suggests Binance is not acting ethically could damage its standing in the market. Furthermore, CZ’s denial of the Blockworks report could also lead to speculation about the company’s true intentions.
Potential Impact on the Cryptocurrency Markets
Another important consideration is this news’s potential impact on the cryptocurrency markets. It is well known that CoinMarketCap is one of the most critical data sources for traders and investors in the crypto space. Therefore, any potential acquisition of the platform by Binance could have significant implications for the overall market.
It is important to note that before CZ denied the Blockworks report, Cardano founder Charles Hoskinson had expressed interest in acquiring CoinDesk. While this offer was ultimately turned down, the Cardano team may continue to pursue a deal in the near future. If Cardano successfully acquires CoinDesk, it could be a significant coup for the project and give the token a much-needed boost.
The denied acquisition of CoinDesk via CoinMarketCap has many implications for both Binance and the cryptocurrency markets. The news has had a negative effect on Binance’s reputation, as well as raising speculation about the company’s true intentions. Additionally, it could significantly impact the overall crypto markets, as CoinMarketCap is one of the most critical data sources for traders and investors.
