Telegram Loses Latest Battle Round with the SEC Over Gram Tokens

Encrypted messaging service Telegram is putting up a fight with the Securities and Exchange Commission (SEC).
Telegram Is Duking It Out with the SEC
The company is in hot water after the government organization claimed Telegram had failed to properly register a token offering a few years ago that resulted in more than $1 billion in revenue for the messaging service. The enterprise made quite a bit of money after promising delivery of its new “gram” tokens to several individual investors, though at press time, all those deliveries have been suspended until the legal barricades surrounding Telegram can be struck down.
Recently, lawyers for the organization reached out to the SEC asking for clarification as to why the distribution process is being upheld. The SEC says it will not provide this clarification, stating that Telegram is “undeserving.” The messaging platform has since put out a statement claiming that a complete distribution ban is unwarranted. The statement reads:
In fact, courts have modified injunctions after a request for clarification in similar circumstances. The modification of the injunction will preserve the status quo by clarifying for the parties precisely what [defendant] is and is not, enjoined from… [and] is therefore within the scope of this court’s authority.
Sadly, the federal judge presiding over the case is not siding with Telegram, and has allowed the SEC to enforce the denial, though he hasn’t explained why. Judge Kevin Castel of Manhattan, New York has ruled the company will not be permitted to launch any tokens or products on its new TON blockchain, nor will it be allowed to distribute or sell any further tokens to customers outside the United States.
Telegram is adamant that it should not be susceptible to the SEC’s judgement, claiming it followed all guideline and raised money during its initial ICO (initial coin offering) from “sophisticated investors.” It therefore claims it was not required to register its offering with the SEC, and that the tokens were purchased through decentralized means.
The company explained in a court filing:
Telegram has always treated the purchase agreements as investment contracts (and thus securities), but that does not mean the underlying Grams themselves, which do not exist yet and will be used, bought and sold by the public following the launch of the TON blockchain, are also ‘securities.’
You Didn’t Do Things Correctly
Castel, on the other hand, suggests that the gram tokens met what’s known as Howie’s definition of securities, claiming:
The security in this case is not simply the gram, which is little more than alphanumeric, cryptographic sequence. This case presents a ‘scheme’ to be evaluated under Howey that consists of the full set of contracts, expectations and understandings centered on the sale and distribution of the gram.
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Saudi Arabia Calls for Urgent OPEC+ Meeting to Stabilize Global Oil Prices

Coinspeaker Saudi Arabia Calls for Urgent OPEC+ Meeting to Stabilize Global Oil PricesThe Saudi Arabia government has called for an urgent meeting of OPEC and a group of non-OPEC countries to try and reach a fair deal to restore balance to the oil prices. The news which was conveyed through the state news agency SPA has been revealed today on Thursday. As a result, oil prices jumped almost 25%.Initially, the oil prices had surged 10% after the U.S. President Donald Trump said he expects Saudi Arabia and Russia to come to a common agreement about the oil price war. Oil prices have been hit hard by the lack of agreement between the two oil giant producers, and more to it, the low demand caused by the ongoing coronavirus crisis.However, the Russian Energy Minister Alexander Novak said that the country had no plans to reduce its crude oil production. Despite the hard stand by the Russians, the Saudis remain positive that a fair deal will be met to stabilize the oil prices.One of the senior Gulf analysts said:“Saudi Arabia has always welcomed and supported cooperation among oil producers in their efforts to stabilize the oil market during the current crisis, based on the principles of fairness and equity.”Initially, Aljazeera had reported that the strategic relationship between the United States and Saudi Arabia may take a different path if the Saudis do not resolve its oil production war with Russia.Republican Senator Dan Sullivan told CNBC:“The Saudis have really brought in a supply shock at exactly the wrong time, this kind of crisis makes it clear who your friends are and who aren’t your friends.”Will Global Oil Prices Change after Urgent Meeting Called by Saudi Arabia?The oil industry has had successful years, with the oil giant producers sharing equitably the global demand of the black commodity. However, after the wake of the novel coronavirus, things changed drastically for the worst, after the demand crashed suddenly.Industries that heavily depend on oil have rendered closed to assist the local respective authorities to control the spread of the virus. Industries like air travel have been grounded all over the world after most countries closed their borders.It is expected that the meeting will yield positive results, as the bullets are depleting fast for the oil producers to stabilize the oil prices. However, will the solution be long term? Well, that’s a question that can only be answered if a vaccine or cure for the coronavirus is approved sooner to save the world economy at large.Saudi Arabia Calls for Urgent OPEC+ Meeting to Stabilize Global Oil Prices

PrimeBit vs Bybit: Trading on Webtrader

Coinspeaker PrimeBit vs Bybit: Trading on WebtraderVolatility opens golden opportunities to cryptocurrency traders. You can take advantage of the crazy dips and spikes over the past few weeks. How do you execute leveraged margin trading? Let us have a quick look at the trading process through PrimeBit and Bybit.Intuitive Margin Trading at PrimeBitPrimeBit is the fastest-growing P2P Bitcoin-based derivatives exchange with up to 200x leverage for perpetual contracts in Bitcoin, Ethereum, and Litecoin, the highest on the market. It boasts of excellent trading conditions with low fees, no contract expiry dates, and no minimum deposits required, among other advantages.Margin trading in PrimeBit’s WebTrader platform is effortless to do, thanks to its sleek but user-friendly design. It features a set of basic and advanced charting tools that are surprisingly customizable to suit the needs of modern traders. The standard MetaTrader 5 engine is also integrated for seasoned investors and is accessible via browser and on mobile or desktop applications.Intuitive UI showing the main page, PrimeBit WebTraderThree contracts are available in PrimeBit: BTC/USD, ETH/USD, LTC/USD. After setting up an account, users can choose from a fully-featured demo account and a live account to trade. The demo account enables users to perform mock trades to improve their trading skills before diving into actual trading.On the main page, all the information you can use to analyze and execute a trade is presented. Customizable charts are available, and the order book and contract details along with transaction history are all on a single page for easy reference.Follow these simple steps to execute a trade.Simple steps to execute a trade, PrimeBit WebTraderFrom the upper side, choose an account (live or demo) and then select the contract.Click on a specific order from the Order Book, or set your order (Step 3).Check and adjust the details of your new order on the New Order window on the right.Set the leverage found at the bottom of the New Order window.Finally, click the Buy or Sell button.And you’re done! Check the transaction history on the tabs at the bottom of the page.Fast Trading Transactions at BybitByBit is a new player in the leverage trading market with up to 100x leverage. It is a global crypto derivative platform that provides an integrated asset exchange with high performance. Bybit also has a test account called Bybit Testnet, where investors can use to practice their trading techniques. However, you will need to register a separate account to access this.The main page, BybitThe lower part of the main page, BybitThe main page shows the analytic charts on the left-most part, and the Order Book and contracts details on the right. Scroll down the page to see more information such as Order History, Market Activity, Asset Overview, and the Help section.Here is how you execute a trade at Bybit.How to execute a trade in BybitChoose a contract.Choose an order from the Order Book or set your order (Step 3).Check and finalize the order information on the right-most Order panel.Click the Buy/Long or Sell/Short button. Afterward, the Order Details pop-up window will appear.Order details pop-up window, BybitFinalize the order and click Confirm.ConclusionIn terms of the platform’s look and feel, PrimeBit takes the cake for its clean and minimalist design. Despite the sleek user interface, everything that a trader will need is found all in a single page—no need to scroll down or open additional windows to complete a transaction. The customizable charts are also convenient as you can toggle the data panels as you see fit. Just click on the toggle arrow, and you can control what details you want to appear on your screen.Both platforms are also equipped with demo account features. However, unlike PrimeBit, Bybit does not instantly give users virtual cryptocurrency assets to make mock trades. Bybit users will need to make a deposit to their test accounts to use simulated assets for mock trading, and this dummy deposit requires a whole lot of steps to do.Also, users will need to create a separate account to access Bybit Testnet, which can be a hassle to some. PrimeBit’s demo account is better because mock BTC/ETH/LTC assets are readily available to users upon sign up so they can immediately start simulated trades and practice their trading strategies. PrimeBit vs Bybit: Trading on Webtrader

Has Luck Run Out for Bitcoin This Year?

Bitcoin has taken another turn for the worse and is presently trading at approximately $6,160 at the time of writing.
Bitcoin May Not Have a Good Year in 2020
Both crypto ad stocks have fallen further after U.S. President Donald Trump warned that the first two weeks of April could be very difficult for Americans, bringing more coronavirus-related deaths and further damage to the country’s financial and economic infrastructures.
But for the most part, this is still short-term damage. Everything is likely to recover at some point or another. The virus will dissipate, users will recover, and the financial markets will potentially be stronger than ever. The long-term damage of the present situation has taken on a different look and meaning.
According to the latest data, the chances of bitcoin reaching its all-time high of $20,000 this year – like it did in 2017 – is around four percent. In other words, nobody’s giving bitcoin a snowball’s chance in hell of spiking much in the remaining eight months of 2020. According to analysts, the problems stirred by the coronavirus and the global panic we’ve been witnessing since late February have taken a massive toll on crypto, and it may not come back for some time.
This is disappointing when one considers just how many over the top price predictions there were leading up to the new year. Figures like Tim Draper, for example, had long been swearing that bitcoin would potentially reach $250,000 per unit by the time 2022 or 2023 came about. He later swung in and changed this prediction, bringing it back a few years to 2020.
Others, like Ross Ulbricht of Silk Road fame and Charles Hoskinson – the co-founder of Ethereum – all swore up and down that bitcoin would strike six-figure territory of $100,000 or more sometime this year.
Perhaps the biggest prediction came by way of antivirus mogul John McAfee, who long predicted that bitcoin would reach a price of $1 million by the end of the year. McAfee later went back on this prediction, swearing that he was never serious about the numbers and only concerned about getting people involved in the crypto industry to boost its legitimacy.
The Only Way to Fix Things…
Regardless, the odds look very different for bitcoin now than from how they appeared in February when the asset was trading for over $10,300.
Analysts say the only way for bitcoin to spike beyond measure sometime this year will be if everyone pooled together to put vast amounts of money into the crypto space, though we probably shouldn’t hold our breath for this. With money being as tight as it is, many have shown a willingness to sell their assets and avoid speculative trading in the hopes of retaining cold hard cash, which is king in times of economic strife.
The post Has Luck Run Out for Bitcoin This Year? appeared first on Live Bitcoin News.

AMZN Stock Rises 0.89%, Jeff Bezos Is Urged to Close Amazon Warehouses Hit by Coronavirus

Coinspeaker AMZN Stock Rises 0.89%, Jeff Bezos Is Urged to Close Amazon Warehouses Hit by CoronavirusAs novel coronavirus continues to bit deep into the global economy, Inc (NASDAQ: AMZN) stock was dwindling plunging on Wednesday to begin rising again on Thursday, 2nd April. Now it is 0.89% up and is trading at $1,920.20.Apart from Amazon (AMZN) stock, the firm itself is at a critical time currently due to coronavirus as it has hit some of the firm’s warehouse with staff testing positive to the deadly respiratory disease. This event prompted some New York legislators alongside top unions and Amazon staff to swing into action.The N.Y. legislators and unions sent a letter to Jeff Bezos, requesting that he puts in place more protection for workers at the warehouse who continue to come to work during the pandemic.The lawmakers said to be 45 in number, advocacy group, Amazon Employees for Climate Justice and several unions, including AFL-CIO and the Service Employees International Union, called on Bezos to protect these sets of workers better.“You claim to have adopted several practices to sanitize worksites and protect workers,” the letter says. “But a compelling number of workers have come forward – and even run the incredible personal risk of walking off the job – to report that the actual situation in warehouses does not match Amazon’s public relations statements. Your workers deserve to have full protections and to be confident that they are not carrying COVID-19 home to their families.”According to the employees’ spokesperson, the safety of the team should be a priority as nothing is more important. “Since the early days of this situation, we have worked closely with health authorities to proactively respond, ensuring we continue to serve customers while taking care of our associates and teams,” the spokesperson said.Amazon, on the other hand, said that it had done the needful in keeping facilities safe and clean as they also ensure that these staff follow necessary safety precautions like washing their hands, using sanitizers, practice social distancing, etc.Furthermore, Amazon said they are consulting with health authorities and medical experts on ways they could enclose their buildings for deep cleaning in case any other staff tests positive. The group said it supports Amazon workers’ calls for the company to close warehouses after they report cases of the coronavirus.By and large, Amazon has been pressured on several fronts to look and address issues regarding employees’ safety in warehouses where they operate.Dwindling Amazon (AMZN) StockAmazon (AMZN) stock as at press time is on an upward move soaring by 0.89%. Largely blaming the coronavirus pandemic that has affected the share of several other firms, Amazon stock has also been hit relatively.Before soaring to be trading at $1,920.20 today, the stock closed on Wednesday at $1,907.70 and opened the market at $1,901.64.For specific reasons, Amazon stock is one of the best buy in and has been a long term excellent performer. Amazon stock in the last decade has hiked by 1,340%, seven times note than S&P 500‘s 176% return over this period.AMZN Stock Rises 0.89%, Jeff Bezos Is Urged to Close Amazon Warehouses Hit by Coronavirus

TRON Partnership Brings TRX and BTT Rewards to Refereum Users Stuck Indoors

Coinspeaker TRON Partnership Brings TRX and BTT Rewards to Refereum Users Stuck IndoorsTRON has partnered with Refereum, enabling TRX and BitTorrent Token (BTT) to be earned by video game streamers. The partnership gives users of the gaming rewards platform access to two of the most liquid and versatile crypto tokens, while enhancing the appeal of Refereum to users who are stuck indoors. As a result, gamers can earn crypto rewards, receiving a passive income for doing something they love.In November, Refereum partnered with blockchain streaming platform DLive, rolling out rewards for more than 6 million gamers. Through its partnership with TRON, Refereum has now unlocked new ways for users to earn TRX and BTT. Throughout April, fans who join Refereum, watch their favorite DLive streamers, and retweet certain content will be gifted loot crates containing TRX and game codes.TRON’s commitment to gaming can be seen in its acquisition of DLive and subsequent partnership with Refereum. Aided by acquisitions across other verticals, TRON is adding value to streamers and their fans, while making it easier to earn crypto.Refereum CEO, Dylan Jones said:“It’s our hope that through this partnership with TRON and DLive we can make time at home more interesting for millions of people by offering rewards for watching game streams.”DLive CEO, Charles Wayn said:“At DLive, we want to do our part in helping stop the spread and contain the Coronavirus. Stay indoors, watch your favorite streamers on DLive, and earn rewards! Let’s have some fun and enjoy some great live-streaming content!”Through gamifying the streaming experience, Refereum and DLive have turned a passive pastime into a dynamic one. At a time when much of the world has been forced to remain at home, TRON’s partnership with Refereum provides incentives for gamers to stay indoors and earn while being entertained.About TRONTRON is the leading dApp network, supporting a wide range of gaming, entertainment, and trading applications, and a top 20 cryptocurrency by market cap. The TRON protocol, one of the largest blockchain-based operating systems in the world, offers world-class public blockchain support of high throughput, high scalability, and high availability for all decentralized applications in the TRON ecosystem.About RefereumRefereum is a gaming platform that rewards users for doing what they love :  playing and engaging with their favorite games. By joining a hub on Refereum, users can earn prizes for completing quests  such as streaming a specific game or watching a favorite streamer, while accumulating points that can be redeemed for rewards.TRON Partnership Brings TRX and BTT Rewards to Refereum Users Stuck Indoors

Record 6.6M Unemployment Claims in U.S., Wall Street Opened Mixed, Rose and Fell Again

Coinspeaker Record 6.6M Unemployment Claims in U.S., Wall Street Opened Mixed, Rose and Fell AgainShares on Wall Street started the session on Thursday mixed after the Department of Labor released defeating data on a record 6.6 million people in the United States filing for unemployment benefits last week amid the coronavirus pandemic.The report showed that the figures for the week ending March 28 are 3,341,000 above the previous week’s revised level and the highest-ever in the history of the report. Combined with the previous week, about 10 million people filed for unemployment benefits due to the coronavirus shutdown.Record Number of Job CutsThe seasonally adjusted insured unemployment rate was 2.1% for the week ending March 21, an increase of 0.9% compared to the previous week’s unrevised rate. Seasonally adjusted insured unemployment during the same week was 3,029,000, a jump of 1,245,000 from the previous week’s revised level. The 4-week moving average was 2,053,500, up 327,250 from the previous week.But, of course, that’s not all. Challenger, Gray & Christmas Inc, said in a press release earlier today that the number of jobs cuts in the United States surged by 292% amid the COVID-19 pandemic, The number of slashed jobs in March was 222,288 which compares to 56,660 in the month.The current jump in job cuts marks the largest increase since 2009. Year on year job cuts increased by 267%. The number of reduced jobs does not include furloughs and a total of 141,844 jobs were lost as a result of the ongoing pandemic, the report said.Millions of Workers Have Filed for UnemploymentSenior vice president of Challenger, Gray & Christmas Inc Andrew Challenger said:“The virus has caused total whiplash for HR, hiring managers, and recruiters. The labor data for February showed a strong economy with a tight labor market. Companies were fighting for talent across industries. Now, millions of workers have filed for unemployment, companies have frozen hiring, and in many cases, cut operations or closed completely.”Amid other (lousy) the Census Bureau said in a press release that the United States international goods trade deficit shrunk to $39.9 billion in February, a $5.6 billion decrease from last month’s revised number of $45.5 billion. February exports stood at $207.5 billion, down $0.8 from last month, while imports dropped $6.7 billion to $247.5 billion in the same period. The goods deficit decreased to $61.2 billion and services surplus fell to $21.3 billion.The Dow Jones Industrial Average opened 0.66% in the red. Walmart Inc (NASDAQ: WMT) fell by 0.60%. The Nasdaq 100 fell 0.14%. Starbucks (NASDAQ: SBUX) was up by 8.05%. The S&P 500 stood flat at the opening bell. Carnival Corp (NYSE: CCL) was the worst performer falling 4.34%. The euro declined 0.976% at 9:50 am ET, selling for $1.08577.However, fastly after opening, the Dow Jones dropped over 100 points or 0.21% at 10:04 am ET. A minute later, the Nasdaq 100 and the S&P 500 traded flat as well.Record 6.6M Unemployment Claims in U.S., Wall Street Opened Mixed, Rose and Fell Again

Zoom (ZM) Stock Is Over 8% Down amid Privacy Issues, ‘Zoom Bombing’ Attacks

Coinspeaker Zoom (ZM) Stock Is Over 8% Down amid Privacy Issues, ‘Zoom Bombing’ AttacksThe current uncertainties in the global markets due to the coronavirus pandemic have affected stocks differently. After many governments issued stay-at-home orders, Zoom Videos experienced a surge in activities as people strived to work from home. In that connection, Zoom Video Communications Inc (NASDAQ: ZM) stock used to enjoy the glow of a rising price.The share prices surged as a result of enthusiastic research reports coupled with insatiable demand among enterprises and consumers. But, in recent days, the one-time favorite of Main Street and Wall Street has encountered a massive backlash from politicians and regulators.Zoom’s recent boom has also become its undoing. Hackers have targeted the video-conferencing service due to its recent popularity. The increase in hacking activities has made the FBI warn consumers about the so-called ‘Zoom-Bombing’ incidents.Additionally, a lawsuit filed on March 30 in California alleges that Zoom (ZM) gave out users’ private data to Facebook Inc (NASDAQ: FB) and other external players without adequately informing customers.Difference Arises for ZoomAfter the hackers seemingly took over, shares of Zoom have lost over 10% since March 27. These losses include a three-session losing streak after surging higher amid coronavirus market uncertainties. On April 1, the shares dropped 6% in the third day of declines registering one of the longest losing streaks for the stock since late January.Zoom’s current pool of problems is similar to those of Facebook. Most of the high-flying companies that have popular services that access a lot of personal information face these challenges. In most cases, the information that they have has made the companies have high-valued stocks and become targets for scammers and legislators.The PredicamentZoom may find itself in the same position as Facebook after the 2016 US presidential elections. A lot of Privacy and data-related hiccups made the company spend billions of dollars enhancing its security and regaining the trust of its users.Two thoughts on the developments we have seen with #Zoom over the past couple of daysIt's clear that changing perception takes much longer & is much harder than making your tools Enteprise class. Just look at GoogleSecurity & Privacy are not the same – Zoom must address both— Carolina Milanesi (@caro_milanesi) March 31, 2020Zoom was caught flat-footed in not thinking about some of the exploits people might be using. In the case of ‘Zoom Bombing,’ a hacker hijacks a video conference to post hate images or pornographic videos.The IncidentsIn some incidents, trolls have broken into AA meetings and taunted recovering alcoholics while others have hijacked a virtual meeting of black students at the University of Texas and hurled racist slurs. The FBI’s Boston office on March 30 advised users not to publicize their Zoom meetings or share links to their video conferences on social media.Sen. Richard Blumenthal, D-Conn., wrote in a letter to Zoom CEO Eric Yuan on March 31:“The millions of Americans now unexpectedly attending school, celebrating birthdays, seeking medical help, and sharing evening drinks with friends over Zoom during the coronavirus pandemic should not have to add privacy and cybersecurity fears to their ever-growing list of worries. Zoom has a troubling history of software design practices and security lapses that have posed significant risks to the privacy and safety of its users.”A company spokesperson told reporters in an email on April 1:“Zoom takes user privacy, security, and trust extremely seriously. As more and new kinds of users start using Zoom during this time, Zoom has been proactively engaging to make sure they understand Zoom’s relevant policies, as well as the best ways to use the platform and protect their meetings.”A while after details over its data-sharing practices emerged in a Vice Media report, Zoom officials acknowledged the incident of data sharing in its blog posts.Zoom (ZM) Stock ResponseIn a separate instance, a Zoom spokesperson said that the company officials would comply with all specifics on how the company will safeguard users’ data. The Attorney General’s inquiry followed a Consumer Reports investigation that discovered that Zoom failed to disclose details on how information is used for marketing, advertising, or other business purposes.Zoom (ZM) stock has been among the few beneficiaries of the novel coronavirus outbreak that has forced millions of Americans to work remotely. As of March 22, the daily active users increased 378% year-over-year, according to market researcher Apptopia.Zoom stock has improved 32% since February 19, and the investors are betting the company will become a corporate and consumer staple after COVID-19 dissipates. The stock surged by almost 115% in the first quarter.But now the ZM price is falling. ZM stock is currently 8.39% down and trading at $125.50.Zoom (ZM) Stock Is Over 8% Down amid Privacy Issues, ‘Zoom Bombing’ Attacks

U.S. Oil Jumps Over 20% on Possible End to Saudi Arabia-Russia Price War

Coinspeaker U.S. Oil Jumps Over 20% on Possible End to Saudi Arabia-Russia Price WarAfter closing the first quarter of 2020 on the worst fall, U.S. oil prices have shown signs of recovering amid the coronavirus crisis. This is after the United States President Donald Trump said that he expects Russia and Saudi Arabia to come to a common agreement on their differences.Saudi Arabia, an OPEC member, has been pushing the Russians, which is not an OPEC member, to cut daily oil production in order to stabilize the price. However, since the Russians are independent, they opted not to comply with the request. Instead, the Russians raised their daily oil production with over a million BPD.As a result, the Saudi decided to escalate the cold war by further pumping their oil into the market. In addition, they announced a further discount on their crude oil to have a cutting edge in the already flooded market.Global and U.S. Oil Industry Surrenders to CoronavirusAs we enter the second quarter, most businesses have either closed down or are preparing to do so after the coronavirus crisis has brought down the demand, and governments continue putting strict measures to control the spread of the virus. In the United States, the number has been rising at an alarming rate, which has called for the need to go a mile further and maybe put the whole country into lockdown.According to Bill Gates, the country has been left with no other option if it wants to see the rate of infection and deaths come down. He recommends a lockdown of 10 weeks minimum for the spread of the coronavirus to be controlled.If the lockdown is initiated, the oil demand is going to tumble further to a point never witnessed in recent times. As of April 1, the Center for Disease Control and Prevention had reported total cases of over 186,101 and fatalities tallying to 3,603. Being the leading country with the highest number of coronavirus cases, the stock market and the oil industry will shed further at an unprecedented rate.On other oil markets, the WTI crude rose by 23.58% to clinch above $25.10 per barrel, while the European Brent crude jumped by 20.33% to hit $29.77 per barrel.U.S. Oil Jumps Over 20% on Possible End to Saudi Arabia-Russia Price War

Binance and CoinMarketCap Officially Declare Huge Acquisition

Coinspeaker Binance and CoinMarketCap Officially Declare Huge AcquisitionBinance is one of the three biggest exchanges in the crypto space. CoinMarketCap (CMC) is one of the most popular crypto tracking tools on the web. They had more than 200 million visitors per last 6 months.Per the official announcement, CoinMarketCap has gone through a hefty of improvements before going on such a big step. Now, Binance’s inner experts, as well as tech infrastructure, will help to handle the tasks more quickly. Binance CEO Changpeng Zhao claims that CMC specialists have sustained a strong spirit and mind. They are finally ready to join the Binance family, which typically picks the best:“The core DNA of CoinMarketCap is strongly aligned with Binance’s ethics and culture, from its integrity to its value of freedom, transparency, and user-focus. Our common vision will be strengthened by this acquisition to further growth and instill transparency in the industry. This will enable us to build on each other’s strengths, jointly serving as infrastructure providers of crypto.”Binance Excited to Work with CoinMarketCap AnalystsCMC is the most cited source when it comes to the cryptocurrency, blockchain and Bitcoin data. Since its inception, the company remained independent from large venture capital. The founder was anonymous, and the company developed solely thanks to numerous partnerships and cool, minimalistic design. CMC page lacks distracting elements and loads very quickly into the browser window.CMC and Binance will continue operations as separate entities. The acquisition will not impact the companies in any way. Per the press release:“CoinMarketCap pledges to continue providing the highest level of information integrity by ensuring data accuracy and improving its ranking methodologies. To enrich the decision-making process of its users, the company recently launched a new Liquidity Metric and added derivative market data, new rating metrics, and analytics from trusted partners. CoinMarketCap intends to expand its information offerings to include trading products such as futures, options, lending, and more value-added data analytics and tools.”Brandon Chez Steps Down as CoinMarketCap Director to Focus on is the creation of Brandon Chez, an anonymous individual from Delaware, United States. He will quit the company to focus on his family after seven years of hardcore work. Maybe, he also in fears of coronavirus and want to spend these uneasy days with his dear ones. Brandon Chez stated:“I believe that of all the teams in the space that could acquire CoinMarketCap, Binance is one of the very best options. They are a team that has shown, time and again, that they care about their users and will do the best for them, even in the most challenging of times. This spirit will continue to echoe in our own user-focused philosophy at CoinMarketCap.”Carylyne Chan, CSO at CMC, says that the opportunity to work with Binance gives the company insane level up:“Ever since our humble beginnings in 2013, we have been public about our commitment to remaining neutral by avoiding censorship and judgment of projects or exchanges that we list, preferring to let users make their own decisions based on the data. …The Binance team has been unequivocal in ensuring that we can continue to adhere to our methodology without prejudice.”Changpeng notes that he will make sure that CMC and Binance will build innovative tech together:“For many, CoinMarketCap is the landing page of our industry, and like Binance, it has built its community around user trust. We plan to empower CoinMarketCap to continue to build innovative, useful products for its users and the global community.”Per the recent reports, Binance CEO Changpeng Zhao was considering this expansion (reportedly worth $400 million) a long time ago. All because of the possible traffic increase. CoinMarketCap gains 80% more in pure traffic than Binance, despite it’s not a trading platform, they mine data.Binance and CoinMarketCap Officially Declare Huge Acquisition