Congrats to the CMC team, but I fail to see how barring some special IP this makes sense at that valuation; they're an index that, while useful to an exchange, can't really be worth $400 Million in a current (albeit resilient) crypto Bear Market.<p>Binanace must be wanting to get rid of some Yuan as the CCP is just dumping Billions of it into the Market via bailouts, while people in Wuhan are supposedly coming [1] back online and wanting to 'Revenge shop.'<p>As for the idea of monopolizing such information, sites like Coingecko have been around for nearly as long as CMC, so it makes no sense. The other notable purchases Binance as made have been other exchanges, and a news site in China, which make actual sense to strengthen their position or get a foot-hold in other Markets in their core business as an exchange.<p>1: <a href="https://oklahoman.com/article/5659041/time-to-revenge-shop-chinas-virus-hot-spot-reopens" rel="nofollow">https://oklahoman.com/article/5659041/time-to-revenge-shop-c...</a>
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...?
To the suspicious, CMC is more than a crypto prices list: <a href="https://coinmarketcap.com/api/pricing/" rel="nofollow">https://coinmarketcap.com/api/pricing/</a><p>They also have several openings: <a href="https://jobs.coinmarketcap.com/employers/293118-coinmarketcap?utm_source=coinmarketcap&utm_content=footer" rel="nofollow">https://jobs.coinmarketcap.com/employers/293118-coinmarketca...</a>
$400 million for a consumer-facing analytics company with some SaaS data streams. HN can hate on crypto all it wants, but that's a real startup success! Great work CMC
Perhaps this isn't $400M in cash, but instead is $400M in binance-coins, which are virtually worthless, but make crypto startups appear much more valuable.
Holy moly $400m for website that aggregates crypto coins data. Congrats to Coinmarketcap. I remember first using it in 2013, it was just another crypto website but it became the most popular soon after.
Nomics[0] is a viable alternative for those that are now suspect of CMC.<p>[0] <a href="https://nomics.com" rel="nofollow">https://nomics.com</a>