CoinMarketCap is a website that provides information and data such as prices, trade volumes, market capitalization on

cryptocurrencies A cryptocurrency (colloquially crypto) is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Individual coin ownership records ...

. It was founded in 2013 in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

by Brandon Chez.

Overview

Coinmarketcap was founded in 2013 by IT

programmer A programmer, computer programmer or coder is an author of computer source code someone with skill in computer programming. The professional titles Software development, ''software developer'' and Software engineering, ''software engineer' ...

Brandon Chez in New York City. By 2018, the website had become one of the most popular in the world, according to ''

The Wall Street Journal ''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...

''. In January 2018, Coinmarketcap took out

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...

n exchanges from its calculation for prices because the prices there were consistently higher than in other regions. That caused a significant decline in

XRP The XRP Ledger (XRPL), also called the Ripple Protocol, is a cryptocurrency platform launched in 2012 by Ripple Labs. The XRPL employs the native cryptocurrency known as XRP, and supports tokens, cryptocurrency or other units of value such as fre ...

's market capitalization and created chaos on the markets. According to ''

Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician a ...

'', in November 2019, Coinmarketcap introduced a Liquidity metric designed to combat fake trading volume. In April 2020,

Binance Binance Holdings Ltd., branded Binance, is the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading ...

, a cryptocurrency exchange, acquired Coinmarketcap for an undisclosed amount. ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'' suggested that the deal could be worth $400 million. In November 2021, Coinmarketcap was cited by ''

Vice A vice is a practice, behaviour, Habit (psychology), habit or item generally considered morally wrong in the associated society. In more minor usage, vice can refer to a fault, a negative character trait, a defect, an infirmity, or a bad or unhe ...

'', The ''New York Times'' and some other media for warning users of the "Squid" coin fraud scheme, which falsely claimed to be affiliated with the ''

Squid Game ''Squid Game'' () is a South Korean Utopian and dystopian fiction, dystopian Survival film, survival Thriller (genre)#Television, thriller horror television series created, written and directed by Hwang Dong-hyuk for Netflix. The series revol ...

'' TV show. The website is also a source for crypto exchanges rankings. In a letter to The ''Wall Street Journal'', Chez explained that the Coinmarketcap delisted Korean exchanges because many users complained about the inaccurate prices; however, he did not expect the effect of the Korean exchange exclusion to be so large.

References

{{Authority control 2013 establishments in New York City Internet properties established in 2013 American websites Data and information organizations Cryptocurrency in the United States Web3 Technology companies of the United States