CEO of the cryptocurrency data aggregator CoinGecko, Bobby Ong, believes that after Binance buys The coinmarketcap resource, it will be difficult for The latter to remain unbiased.
During the interview, Ong stressed that his company “maintains data integrity” at a time when “a lot of new exchanges are faking information about trading volumes.” According to him, it will now be difficult for the resource CoinMarketCap, which was competing with CoinGecko, to remain unbiased, because it belongs to the Binance exchange.
“I think that after the sale to The coinmarketcap resource, it will be difficult to remain neutral and unbiased, so now we are the largest independent aggregator of cryptocurrency market data,” Ong said.
Note that the CoinGecko platform uses its own method for determining the “confidence index” for data on the volume of trading on cryptocurrency exchanges. The resource also studies the field of decentralized Finance (DeFi).
Initially, the sale of CoinMarketCap to the Binance exchange became known on March 31. Later, the information was confirmed by the General Director of the exchange Changpeng Zhao (Changpeng Zhao). The deal is valued at $400 million and is one of the largest acquisitions of a company in the cryptocurrency field.