Binance acquires CoinMarketCap for ~$400 million, Spanish Tax watchdog informs 66.000 traders and class actions against crypto industry

2 min readApr 8, 2020


Photo by André François McKenzie on Unsplash

Binance acquires CoinMarketCap for ~$400 million

Crypto exchange Binance acquired the cryptocurrency ticking and tracking website CoinMarketCap. It’s also known as CMC, and it’s the most popular aggregator for exchange volume and cryptocurrency pricing data.

The deal closed on March 31st, according to Binance CEO Changpeng Zhao (CZ).

“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,” — Zhao

Several employees at Binance told The Block that they are considering a significant change in CoinMarketCap’s business model. The rumours are that CMC will shift away from an ad-based model to a subscription model. This will charge exchanges to be included on the site.

Spanish Tax watchdog puts 66.000 crypto traders on notice

The Spanish tax authority started sending out warning notices to 66,000 cryptocurrency holders. The goal of this message is to remind them of their tax obligations.

According to Europa Press, the Agencia Estatal de Administración Tributaria (AEAT) began the campaign on the 1st of April. They will keep sending letters until June 30.

Last year, an amount of 14,700 notices were sent out. It shows there’s a growing interest amongst the Spanish citizens.

Source: Cointelegraph

Cryptocurrency industry faces US class action lawsuits over billions

Investors have brought class action lawsuits in federal court against seven cryptocurrency issuers and four exchanges. They are claiming that these parties sold billions of dollars in unregistered assets in violation of U.S. securities laws

The 11 lawsuits, filed on Friday in U.S. District Court in Manhattan, also name executives of the companies.

The defendants include crypto issuers and Tron, and exchanges Binance and BitMEX

”We are aware of the opportunistic complaints filed against several blockchain and cryptocurrency companies,”—

Source: FoxBusiness

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