Binance chief Changpeng ‘CZ’ Zhao said the firm conducts 30 to 50 acquisitions or purchases of other projects (M&A) each year. Binance does not disclose the details of most of them.
Zhao stressed that narrowly specialized projects, for example wallets, do their job far better than a diversified large corporation. Therefore, for the latter, it is more sensible to acquire a professional team than to develop the area on its own.
“In 2021 we won’t slow down. There will be deals,” he told ForkLog.
Earlier this year, Binance acquired the data-aggregator CoinMarketCap. Analysts and insiders valued the deal at $400 million. It was one of the largest acquisitions in the industry.
More on the year’s major deals ForkLog described it in a special feature.
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