Posted 11 months ago | by Ben Armstrong
Binance CEO Changpeng Zhao Talks CoinMarketCap’s Recent Changes
In a recent blog post, Changpeng Zhao (CZ) claimed that all projects within the Binance ecosystem operate independently from each other to some extent as well as outlined that no person or entity can affect CoinMarketCap’s new ranking system.
There has been some speculation that with the purchase of CoinMarketCap by Binance, its independence may be compromised.
Binance and the data tracking company CoinMarketCap launched a new ranking system for exchanges dubbed Web Traffic Factor after Binance acquired CoinMarketCap in April. This has been met with some amount of skepticism by many.
Binance Says – No Compromises!
The new ranking has come from various inputs such as page views and unique visitor count and places Binance to the first spot.
CryptoPotato reported that although Binance was indeed the leading cryptocurrency exchange as measured by several components, including monthly visitors, the ranking of CoinMarketCap still immediately caught doubts by the crypto community.
In a May 19 blog post, CZ worked to explain the involvement (if any) from Binance in projects owned by the company, including CoinMarketCap. According to the CEO, each team within the Binance ecosystem operates “relatively independent” from each other and report to a well-established hierarchy.
CZ Does Have Some Influence
In addition, while CZ confirms his influence in the price site CoinMarketCap but does not dictate how the data tracking company works, the CEO also refutes the insinuations that the Web Traffic Factor rankings were influenced.
“Our neutrality principles are simple. At no time will Binance.com (or any other exchange) be “manually” fixed into a position, ever. We will always strive to use a combination of metrics to achieve the most trusted data and rankings for users. And if Binance.com ranks first, it ranks first, if it doesn’t, it doesn’t. There is no manual tweaking of any ordering for any exchange.”
Some people questioned his exact motives and involvement with the project when CZ asked the community in a tweet about what they would like to see improved on CMC back in April, the CEO also mentioned in the shared post.
“Should I not tweet about CMC to be seen as more distant or “independent”? Well, get over it. We bought it. You can safely assume I will continue to tweet heavily about CMC, just like I will continue to do so for Binance, BNB, Trust Wallet, WazirX, and all of the teams and projects in the Binance ecosystem.”