Binance Set to Acquire 20 – 30 Crypto Startups Yearly Says CEO

Binance is planning to acquire 20-30 cryptocurrency related startups per year according to CEO, Changpeng Zhao (CZ).

With over $800 million in revenue last year, CZ said Binance is self-sufficient and doesn’t need huge funding for growth. 

“My view is I’m not an expert in these areas, and it’s better for us to find strong teams that are already doing this well. We plan to do somewhere between 20 and 30 acquisitions a year. Most are smaller acquisitions—we don’t announce them”

CZ

Leading Exchanges Are Going Public

Leading cryptocurrency exchanges including Coinbase, are preparing to go public in the stock market. But Binance isn’t bothered by this new trend and is focusing to expand with more startup acquisitions.

“Right now, we’re not looking at going public, and we’re not looking at an IPO. We are cash-­sufficient, so we’re able to grow ourselves. We don’t need a huge amount of money, we are profitable, and we are growing,”

CZ

Binance Acquisitions So Far

Binance has already made some huge acquisitions over the past few years which include crypto exchanges, crypto wallets, crypto debit cards and dencentralised apps.