Home News Kris Marszalek accused CoinMarketCap of data distortion

Kris Marszalek accused CoinMarketCap of data distortion


Crypto.com Chief Executive Officer Kris Marszalek criticized the CoinMarketCap (CMC) service for providing incorrect information about trading volumes.

At the time of writing, the service ranks Crypto.com on the 10th place in terms of trading volume. According to CoinGecko, the exchange ranks second with an indicator of just over $3.8 billion in the last 24 hours.

The tweet Marshalek is referring to is probably dated December 15th. The CoinMarketCap team joked during the conversation that he might have to cancel the Forbes interview. At the same time, the service acknowledged a malfunction.

Binance acquisition of CMC contributes to development of the industry

In 2020, the Bitcoin (BTC) exchange Binance acquired CoinMarketCap. According to the CEO of Binance Changpeng “CZ” Zhao, the vision, ethics and corporate culture of CoinMarketCap are in harmony with the values of his company. As well as the service’s commitment to transparency and user orientation. He is also confident that the acquisition of a leading service contributes to the development of the industry.

“This will enable us to build on each other’s strengths, jointly serving as infrastructure providers of crypto,” Zhao said in the statement.

The company blog says that under the terms of the deal, CoinMarketCap founder Brandon Chez left the post of CEO, but remained in the role of adviser. Former Director of Strategy, Carylyne Chan, became the CEO of the service.

Criticism on social networks and leaked email addresses

In July 2020, CoinMarketCap placed Binance Coin (BNB) in the first place of the rating of decentralized finance (DeFi) tokens by capitalization. After criticism on social networks, the service removed the token from the list without explanation.

Recall that previously in October, unknown persons put up for sale a database with the email addresses of 3.1 million users of CMC. The records did not contain passwords, according to HaveIBeenPwned.

CMC confirmed that the merged addresses “correlate with the subscriber base” of the service. The company conducted a “comprehensive check of the servers”. However, “did not find any traces of a security breach.” Experts believe that third-party platforms obtained the data.

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