Binance inks CoinMarketCap acquisition during a global dealmaking freeze
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Quick Takes
- Binance’s acquisition of crypto data site CoinMarketCap is one of the biggest deals in the ecosystem to date
- It’s a notable deal given that it comes amid a global freeze in mergers and acquisitions
- The Block’s reporting indicates that it was mostly an equity deal rather than a cash deal – a path that is easier to clinch in a down market since one doesn’t need to take large sums off their balance sheet or borrow.
Global mergers and acquisitions have come to a screeching halt, but that didn't stop one of the largest cryptocurrency firms from getting a mega-deal.
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