hello folks you have reached the
cryptocurrency portal and today I want
to go over the little information about
finance and quaint market cap because
there's a splashy headline going around
how finance has purchased coin market
cap for 400 million dollars now said
then the headlines are saying there's a
bid for them or they're trying to but we
have information shows this deal has
been completed so let's go through this
together
you can see the headline here says
Bitcoin and crypto world is rocked by an
estimated 400 million dollar minus bid
which is now come completed for coin
market cap the world's largest Bitcoin
and crypto currency exchange finances
and talks which is now completed to
acquire popular crypto data site coin
market capita the deal is said to be in
the final stages again this is final now
looks to set to see Malta based finance
pay as much as four hundred million
dollars for the United States based coin
market cap according to Bitcoin and
crypto news and analysis website the
block which broke the news so out of the
gate let me know in the comment section
below what you think of this acquisition
because Finance a cz
or beloved in the crypto space for
everything they've done for the space
there's a lot of haters out there about
coin market cap so it can go two ways
coin market cap will bring by Nance down
or will finance bring coin market up
well let's explore this together because
we have a nice letter that actually came
from the founder of coin market cap and
the new CEO of coin market cap so let's
continue says the block reports the
massive deal is expected to be announced
later this week which it has been
announced and that coin market caps
ability to derive a significant amount
of web traffic is a major reason for by
Nance's interest citing people familiar
with the matter that's so true because
check out coin market caps website is
pretty basic it shows the crypto
currencies there's thousands of them we
all focus on these top ten essentially
in Bitcoin atheria XRP tether on down
through the top here Tron is around here
somewhere
now just it's pretty basic here's the
market cap here's the price here's the
volume here's their circulating supply
yeah they have a few ads here that
probably drive some revenue they have
Google Adsense that drive some revenue
but they're mine anti-sense
is purchasing the eyeballs that come to
this site again I know there's a lot of
haters about coin market cap I tend to
use it just because it's a quick little
reference guide for me since it's all
price related so let's continue to go
through this together this guy on
Twitter says I wonder how finance is
going to deal with the obvious conflict
of interest says Larry Cermak the blocks
director of research said via Twitter
warning that coin market cap will no
longer be impartial but that is already
doesn't have a good reputation among the
bit coin and crypto community we're
gonna get into and read the letter from
the new CEO and she actually addresses
these warnings that they put out there
and it goes on to say who would ever
trust coin market cap after this said
Eugene being head of sales at matrix
port and former trader at Deutsche Bank
and via Twitter adding the deal doesn't
make sense to him a state from finance
might likely work better than an
acquisition and it just defeats the
purpose of having a balanced a neutral
index aggregator the chief executive of
by Nance Qiang ping Chau or cz
affectionately known earlier this year
teased two major acquisitions in the
company pipeline that he is very excited
about adding he expects the deals to
have a quote significant impact on the
sector as the saying goes when you can't
beat them by them c02 finance users back
in January when we identified top talent
with a top product that we can't be and
the teens share common value is a merger
makes sense in most cases there are
always a number of deals being discussed
at any given time and there are two that
I'm very excited about specifically we
will announce them in due time so this
is obviously one of them finance made
nine acquisitions back in 2019 with only
a small number of them being publicly
announced so far Susie said finance has
been focused on expansion around the
world in recent years taken into
services to the United States
in 2019 this will be finances fifth
major acquisition according to data from
crunch base if the finance bid for coin
market cap goes through it would be one
of the largest ever in the virgine
Bitcoin and cryptocurrency industry and
a sign it's beginning to mature finance
declined to comment when asked about
this deal alright so let's do this let's
go to a letter to our users post
acquisition so this is kind of the
confirmation I know the previous
headlines were saying it's a bid for
them etc but this is the latest in grace
specifically from coin market cap and
their personal blog it's a letter to
their users post acquisition from their
founder and their new interim CEO so
let's go through this together you can
see it starts out from the founder
Brandon Chas and it says dear coin
market cap community today is a big day
for our industry if you haven't heard
the news please read the announcement
that outlines the details of finances
acquisition of coin market cap from my
perspective the single most important
factor for deciding to join under the
finance umbrella was our shared vision
for the future of crypto in a world
where the existing financial system is
broken inefficient and unsustainable
there must be a better way we both
believe that global adoption of
cryptocurrencies is that way by
empowering individuals to have
sovereignty over their money we can make
the world a better place and decrease
the unnecessary suffering caused by the
existing systems I believe there is no
company in the space doing more for the
global adoption of cryptocurrencies and
finance I'm truly excited to have coin
market cap be part of the by names
family and join them worthy cause so out
of the gate let me know in the comment
section below what you think of what he
just said because it says right here
they want to make the world a better
place and decrease the unnecessary
suffering caused by the existing systems
and it's so true the existing systems in
place are just completely crazy in light
of today's news I'm officially stepping
down as the CEO of coin market cap and
we'll begin a transition to an advisory
role which is code for he got a lot of
money from growing our user base to
millions of users right there Bing Bing
Bing that's what the finances purchasing
all those eyeballs millions of users and
eyeballs to traveling across the world
for our first international conference
it's truly been an amazing run well
there's definitely more that I can
contribute I don't think it's absolutely
necessary for me to be the one leading
the charge I mean it's true you can get
out of the way the founders so the
people that under you have upward
trajectory in their professional careers
and they'll continue to put their all
and so this is like he retires
essentially being an advisory role the
new person comes in they hit the ground
running they're excited and they keep
moving with vigor so it's always kind of
good to kind of shake it up my successor
to ensure early that coin market cap
stays on track I'm very excited to pass
the torch to Carolyn Chan our chief
strategy officer in many ways she is
already the face of the company you
should check out some of her live
streaming sessions she's great and also
please read her extensive letter to the
community which we're going to go
through together which outlines her
thoughts on the acquisition and the
future of coin market cap it's been a
pleasure to watch her grow
professionally as a colleague and
personally as a friend I'm very eager to
see what she will accomplish with the
team that we've built together so that's
from Brandon who's the CEO and
co-founder who stepped down and now is
in vizor II now let's go to Carolyn Chan
who's now the interim CEO of coin market
cap so let's go through her letter that
went out to everybody on coin market
caps blog dear coin market cap community
as you've probably heard earlier today
we announced that coin market cap has a
new owner and - in this note I want to
share some of my perspectives about the
big news and tell you a bit about my
approach in the future I envision for
coin market cap first of all I want to
thank our founder so he did she goes on
to thank the founder I am excited and
honored to have the given the ability an
opportunity to lead this great company
into the next phase as its interim CEO
an equal measure I am anxious as you are
about the transition and how we can keep
growing coin market cap and a fair
transparent and equitable manner as our
users friends and partners each one of
you in our coin market cap community has
played an extremely important part in
coin market cap over the year
here's a little highlight here to green
all back-to-basics coin Martin cap has
always had a purpose of showcasing the
cryptocurrency revolution to the world
this means making crypto as an industry
and asset class more discoverable and
efficient all around the world this is
the key right here
ensuring neutrality and independence
first let's address the most immediate
concerns related to the recent changes
this kind of dovetails into what you I
was reading earlier about what the
people on Twitter were saying about this
and how they felt and think that coin
market cap will be independent anymore
coin market cap has always endeavored to
help these users make their own
decisions to the forging an opinion or
passing judgment as some of our team are
fond of saying who watches the Watchmen
we take our role of tending to data and
displaying it very seriously you as our
user are constantly voting with your
visits and clicks to continue trusting
but also watching over our approach to
neutrality and accuracy and our data as
such this makes us strive to be the best
of abilities and continue sticking to
these principles in light of the
acquisition we have made some very
deliberate decisions to ensure we can
continue to operate according to this
philosophy so right here independent
entity and operations this will go to
the heart of what people are worried
about so it's good that they're
addressing it coin market cap will
continue to be run independently as an
independent entity from finance
decisions will be made according to the
best interests of coin market cap
meaning that we will continue to develop
products and services that benefit coin
market cap users and continue working
with partners and customers anyway that
benefits them and brings the greatest
value to them point market cap will
strictly follow and enforce our
independent listing criteria circulating
supply calculation methods and liquidity
metrics ranking methodology we are
constantly trying to evolve and improve
our methodology so I want to make it
clear that any attempt to change or
clarify the methodology is our team's
volition in the understanding what's
best for the business and not an outcome
of
acquisition we actually updated our
methodology a few times last year and
for example this operational
independence is key and you can judge
for yourselves in the coming months all
right we'll keep them at their word
we'll take them at their word and we'll
judge it over the coming months after
this acquisitions kind of complete
through the process and then the coming
months if they've kept their word but of
course we are spending 100% of our
efforts in ensuring that this is the
case equal treatment to all products
projects and exchanges now further
expanding a bit more on listings any
crypto asset or exchange that wants to
be listed on coin market cap will be
fairly evaluated on their merits as long
as they follow the guidelines and our
listings of policy which you can see
their listings policy here's if you go
to the coin market catalog and check out
this hyperlink you can see their
listings policy coin market cap will
continue to be transparent to all
projects and exchanges whenever we
update our methodology for example in
the coming upcoming rollout of the
updated liquidity metrics we will
clearly disclose what worked what didn't
and what specific improvements have been
made so that all concerned projects and
exchanges can take heed and all
appropriate on and any appropriate
actions we launched this the quiddity
metric after carefully studying and
testing various approaches so that we
can thoroughly respond to the burdening
trend of inflating volumes it's one of
the examples of how coin market cap has
always listened to concerns from our
users and tries to solve these issues in
a fundamental fashion instead of just
doing it quickly or sloppily our
feedback channels are also open at all
times she's determined to eliminate any
possibility of preferential treatment
our team is also committed to enforcing
this policy so music to our ears but
we'll watch and see ongoing working
relationship and fairness to advertisers
and partners we also care very deeply
about the advertisers and partners which
is obviously revenue we work with and we
will pledge to continue nurturing all
current working relationships and future
relationships we will be conducting all
business without prejudice we will not
be implementing any changes to our
working relationships even with
companies deemed to be competitive with
the parent companies businesses
with coin market cap having the widest
reach to crypto audiences globally we
believe that it remains a rational
business choice to work with coin market
cap to promote your business we remain
committed to providing strong value and
discoverability of our advertisers and
partners products and services following
this acquisition and we will continue
doing our best to showcase them in the
best light we believe that we will still
be able to deliver the value and results
that you expect from us and we'll work
with you to reach your business goals if
you have any concerns or questions our
team will be there to work through them
with you and we can always draw up
stronger protections for you many
agreements were necessary so they're
trying to address this head-on obviously
this is a strategic investment for
finance in terms of coin market cap
though obviously can leverage finance
the systems obviously the founder gets
to cash out a little bit become an
advisor spend more time with this family
and travel but this is probably overall
good but we will keep a short leash on
them and watch them so let me know in
the comment section below what you think
of this so let's keep going making your
user experience more exhaustive circling
back to our collective crypto revolution
I've received a ton of feedback from
users and partners about how we can make
the experience on coin market cap even
more comprehensive and I'll be
sustaining our efforts to do so here the
main yardstick for introducing ideas and
features on point market cap has been
and will be does this effectively
reflect the state of the crypto
revolution today we will be intending to
list more new data types and content on
the site recently we added perpetual
swap data on coin marquee cap and
together with interest rate products
last year and block explore data before
that there will be more of these type
data types being progressively added to
coin market cap reflecting the interest
in trends in the market today and will
continue to slowly but surely expand
into new data categories that we know
you are looking for we also aim to add
more ways that we can crowdsource data
directly on the site for example
enabling you to be able to contribute
tags up votes down votes and
sounds like read it to me which is fine
because reading is a great sight so that
gets more people involved they're
stickier on the site stay on the site
feel more involved so that means more
eyeballs and where people will come to
call market cap which is great for
financing we will soon be rolling out
the ability for you to register for a
coin market cap account there you go so
they're going to be capturing email
addresses and can start sending you
information about the space which is
also spanning so you can sync your
watchlist portfolios and content across
the app website without fear that you
will lose that data if you clear a
cookie for example as we shared at our
conference the Capitol in November of
last year we also launched a jobs board
we will keep up our current efforts to
survey the lay of the land and include
more ways for you to get involved in the
crypto space whether that involves you
in a job or participating in possibly
virtual events all these ideas are
things that we've carefully gathered and
considered from listening to you our
users and we are dedicating to continue
to do so
all right so disrupting ourselves being
the folks who popularized quite a few of
these standard terms we use in the
industry such as crypto market cab and
circulating supply and becoming
dominance
we are constantly finding ways to
disrupt ourselves and what we previously
thought was right for example when we
noticed changes in the way that
exchanges were reporting volumes we
started from the ground up to rethink
how we should be consolidated in ranking
exchanges should we still use data
volume data as the benchmark when we see
more non regulated exchanges without
standardization in the space as a result
of that data exploration we lost our
liquidity metric which has a dynamic
pulling depth for our order books can
waste orders differently according to
the total of the quiddity in the market
okay after that it's complicated but
please see here for the full detail so
you can see there is a hyperlink here
again in the coin market catalog if you
want to see the details on that
complication therefore all the full
details all right working with our new
parent company this is what people want
to hear them
ask for the relationship we have with
our new parent company which I'm sure
you're curious about
I think it'll be beneficial in some non
obvious ways coin market cap is a
profitable business as a standalone
entity I'm sure it is profitable I mean
it has so many eyeballs that go to it
they have the partnerships and the
advertisements on the page and the
Google Adsense that you know bring them
revenue as well and it does not
necessary require financial investment
in the way that some acquired businesses
do however there are some ways that
finance can help coin market cap on its
journey to provide the best data and
experience in crypto while finance will
not be running coin market cab in any
operational capacity they will be
sharing the best practices in company
building and operation with the coin
market cap team this means that the
young team at coin market cap will be
able to benefit from the combined
knowledge of the outstanding talent in
finance and these best practice areas
will run the gamut from sharing HR and
management practices to security and
financial planning
in a similar vein we believe that we can
learn a lot from finance about how to
better optimize some of our support
processes finance has constantly
achieved industry-leading support levels
across all channels and we hope to be
able to better serve you as our user as
well whether you're applying for a
listing or sending in some feedback we
will continue to understand and adopt
best practices here to deliver better
service and response times to our users
and then it looks like it's wrapping up
here so most of all both finance and
coin market cap have a similar vision of
making crypto assets more accessible and
systematically important to users
globally and providing the most accurate
timely in quality cryptocurrency data
and services in the industry I believe
that the simple fact that we are aligned
behind the ethos of being the use of
being user first will enable both our
companies to do the right thing and
always be responsible to our users above
all else as I end this rather lengthy
letter to you but no I appreciate her
laying out though I do appreciate it
I am hopeful about the future of coin
market cab and so um I know that when
market cap got a lot of pushback over
the years and there's some question
marks about Finance acquiring them but
maybe there's a better fit she's gonna
be confident though she will
continue to be able to live up to your
expectations from products and data
which have stood the test of time I will
communicate more frequently and
proactively about the things that are
happening at coin market gap and I hope
to meet more of you online or offline
again soon after all travel and shelter
restrictions have been lifted that's
true so thank you Carolyn the new
interim CEO and probably the long-term
CEO of coin market cap so that's the
latest from the cryptocurrency portal
again please let me know in the comment
section below what you think of this
acquisition bye-bye Nance and the four
hundred million dollars they're paying
for coin market cap what do you think of
coin market cap and what do you think of
Finance do you think this will work out
and you know if you have any crypto
related comment put that in the comment
section below
I love having discussion about the
crypto space so thanks again for tuning
in to the crypto currency portal if you
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[Music]
you
