Why it’s not good news for the ecosystem – Bitcoin – News 2020

BNB holders have been in a trance since this morning. If the hypothesis of an April Fool’s Day in advance cannot yet be totally excluded, it must be agreed: Binance would be well prepared to acquire CoinMarketCap for an amount of 400 million dollars. If for the moment no official confirmation has been issued, this operation would be consistent with recent statements by the boss of Binance, according to which his platform is about to carry out two major operations this year. Here is one it seems.

All this is very impressive and could give the impression that positive things are happening in the industry, that money is flowing there, and that this is indeed an undeniable sign that great things are happening. prepare. Except that here, the big winner of the operation, will be neither you, nor me, nor the whole part of the crypto ecosystem that continues to believe even a little bit in the original vision of Satoshi Nakamoto. No, the only winner …. it will be a platform that sets the conditions for its real ambitions: to become the Amazon of crypto, including by sacrificing certain founding values.

Were you afraid of Libra’s hegemony? Find out how Binance is expanding an empire that will last 100 years.

Towards the emergence of the first Leviathan crypto

You’re kind of worried about the secret plans of Bitcoin whales ? Look forward, we may change scale with the potential emergence of what could become the first authentic giant of the crypto and blockchain ecosystem. If crypto is to give rise to “GAFAM“, Rest assured that the new acronym will start with a“ B ”.

B like Binance, which we learn therefore, via the US media generally rather very well informed The Block, that the exchange is about to acquire the CoinMarketCap platform for a total of $ 400 million.

Classic “Well informed source close to the case”, however, it’s not possible to learn much more, except that the deal could be formalized this week.

We will agree, such major news could hardly come from the “Fake News”.

We’ll remember, however, that it’s not the crazy love between Binance and TheBlock, entities that have exchanged a few bird names on the occasion of the real-false police raid, in the Binance local true-false case in China. We will not forget either that a few dozen hours separate this thunderclap from the famous April 1st day, period during which all somewhat strange information must be taken with the tweezers of use.

Changpeng Zhao (Binance) announces the acquisition of CoinMarketCap
“Buy Microsoft? sky is the limit ”

However, it is difficult to deny that this acquisition would perfectly materialize the recent declaration of the Boss of Binance, Changpeng Zhao who in his wishes for the year 2020 announced to his community 2 major acquisitions to come. So that would be a thing – half – done.

And this half done thing, are we happy or not?

Binance, the old system, but in V.2

I work with the same mechanics as everyone else: whether as a crypto believer, or as a specialist journalist, I am delighted to see big news falling regularly.


These are both positive symptoms regarding force of our emerging economic sector andan extra chance each time offered to expand the economic and media perimeter. In other words: the industry needs giants, and crypto cannot be confined indefinitely to the highly specialized and somewhat subversive shores from which it originated.

However, I’m very worried to see a giant rise before our eyes, which despite being an integral part of the crypto ecosystem, will not hesitate to sacrifice important values ​​on the altar of their own growth.

I wrote a few months ago that Binance was becoming “Crypto Coca-Cola”. This observation will not never been as true as this week, if the takeover of CoinMarketCap, another giant in the sector were to be confirmed.

So, shortly after having announced his ambitions in the cloud domain (with once again Amazon as a model), Binance once again demonstrates that the platform sees its development through the diversification of its activities.

At this point, I think it’s worth remembering that Binance has already raped – or planned to rape – several essential rules of the Tables of the Law according to Satoshi Nakamoto, creator of Bitcoin:

In short, the concentration of crypto full powers in as few hands – were they as nice as those of CZ – raises the question of centralization of its powers, in absolute violation of the Blockchain gospel.

We will add that the fact that this colossus in the making only bases most of its growth on crypto speculation (rather than the emergence of the blockchain industry, or that of new forms of economic governance), raising fears that the initial promises are now absorbed in a logic of growth and capitalist hegemony, the most “old world”.

Ah, and because this is the only question that matters to a large number of observers of the phenomenon: after a probable revival of value essentially caused by the phenomenon of “Buy the News”, no, there is little chance that the BNB token will take off “to the Moon” ...

Indeed, it is worth remembering: BNBs are not shares of Binance. This shift – see this misunderstanding – is also the source of part of ICO failure, perhaps for the benefit of STO (but this is another story).

The coming days will allow us to see a little more clearly about the conditions of this buyout transaction. There is no doubt that the coming weeks will be exciting from the point of view of analyzes on this subject which, with hindsight, will be considered a historic event for the industry … for better or for worse.

Why it’s not good news for the ecosystem – Bitcoin – News 2020
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