Controversy grows surrounding CZ’s involvement in CoinMarketCap after it was acquired by Binance

• The CEO of Binance may have admitted that he was involved in the management of the acquired CoinMarketCap. 
• In the tweet, CZ looks to admit as he was involved in managing the market data website.

The CEO of Binance, CZ may have accidentally admitted that he was involved in the management of the recently acquired CoinMarketCap. 

In the tweet earlier last week, CZ looks to admit as he was involved in managing the market data tracker website.

This ranking is currently heavily biased towards web traffic, not 100% accurate, but better than before. Will continue to iterate.

— CZ Binance 🔶🔶🔶 (@cz_binance) May 14, 2020

However, if he’s not involved in the management decisions of the company, then the question has to be asked as to why he is making public statements that would indicate the opposite. After the exchange acquired space, many people wondered what was going on behind-the-scenes. Few people saw that there was a potential for conflict of interest with the two collaborations but the platform reassured the community saying that the companies would still be independent of each other. They further said:

“No Binance employee, including CZ, has control over CoinMarketCap's ranking algorithms or listing processes. Cryptoassets that wish to be listed on CoinMarketCap should follow the guidelines in our listing policy and will be fairly and independently evaluated on their merits.”

The head of global markets at Huobi Group, Ciara Sun said that the tweet from the exchanges CEO is a big indicator of his involvement with the partnership.

“CZ's tweet stating that they will ‘continue to iterate’ on CMC's ranking system certainly seems to insinuate his involvement but I'll leave that up to the community to interpret.”

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!