- Telecommunications Giant Vodafone Leaves the Libra Association
- Group of Central Banks Assesses Developing Central Bank Digital Currencies
- South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits
- Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
- Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws
Christmas came early – for the crypto exchange giant Binance, I guess. Crypto news making rounds shows that the crypto exchange is not ready to slam the brakes on its shopping spree just yet. In fact, it just acquired the Chinese blockchain data startup, DappReview.
DappReview happens to be one of the biggest information and analytics platforms for blockchain-oriented dapps. Joining forces with Binance will, undoubtedly, create a strong propellant for crypto, which just might be what the crypto market needs right now.
While the actual amount of the deal was not disclosed to the general public, the announcement released on Tuesday did state that Binance now has a wholly-owned blockchain analysis unit based in China.
By the acquisition, Binance looks forward to supporting DappReview in every way possible to ensure it continues to develop the dapps ecosystem as it has consistently done before. Therefore, Binance CEO rightly stated that they “look forward to having more exciting developments in the near future.”
Vincent Niu, the founder and CEO of DappReview revealed in an interview with local Chinese outlet that the firm will continue to run as an independent firm just as it has been running before now. There is no need for any reshuffle, and everything remains as it is, including the leadership and staff. He stated
“After the completion of the acquisition, DappReview’s original business will continue to be cultivated, and the entire management team will remain unchanged.”
Trust Wallet, one of Binance’s other recent acquisition, will reportedly integrate DappReview API’s soon. According to the founder, Viktor Radchenko:
“In the near future, Trust Wallet will integrate @dapp_review APIs to provide easy access to explore new DApps and crypto games, as well as more insight into DeFi [decentralized finance] services, analytics, and usage.”
Binance Attempts to Push the Crypto World Forward
Any list of the top shots in the global crypto ecosystem would be incomplete without mentioning this world-leading crypto exchange that caters to over 180 countries and regions across the globe. Since its inception in 2017, Binance has promised to help propagate growth in the crypto and blockchain sector. And from all indications thus far, that is exactly what the cryptocurrency exchange has done so far.
The latest shopping spree, which has seen the addition of notable armors to Binance’s arsenal, is just another way that the exchange looks to further boost the growth and adoption of virtual currencies across the world. It recently also started engaging in a legal battle against the cryptocurrency news publication The Block over allegedly false reporting.
We look forward to a time when virtual currencies will be as trustworthy and easy to access as just any other fiat currency in the world. Crypto-based companies such as Binance are key players in bringing this dream to reality.