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>