Five executives of the cryptocurrency market data aggregator CoinMarketCap (CMC), including interim CEO Kerialin Chan, have left the service four months after Binance acquired it, The Block reports.
According to the publication, Binance dismissed the executives and plans to replace them with its own staff. A Binance spokesperson said that CoinMarketCap “operates independently.”
Under the terms of the April deal, CoinMarketCap founder Brendon Ches stepped down as CEO. The interim head became Kerialin Chan, who was then chief strategy officer.
Now, alongside her, two vice presidents — Spencer Yang and Jeremy Seow, the global head of design and development Matthew Lipple, and project lead Jared Chin — have left CoinMarketCap.
Chan told the publication that all of them “resigned.”
After the deal between CMC and the bitcoin exchange, CoinGecko co-founder and CEO Bobby Ong said the service would lose its independence.
In May, CMC adjusted its ranking system for cryptocurrency exchanges, allowing Binance to reclaim the top position in the rankings.
In July, the service placed Binance Coin (BNB) at the top of the DeFi tokens by market capitalisation. After criticism on social media, CMC removed the coin from the list, citing an error.
Earlier ForkLog magazine compared CMC with its main competitor CoinGecko:
CoinMarketCap vs CoinGecko: choosing the service for analysing the cryptocurrency market
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