Five heads of cryptocurrency market data aggregator CoinMarketCap (CMC), including interim CEO Karilyn Chan, left the service four months after its acquisition by Binance, according to The Block.
According to the publication, top managers were fired by Binance and plans to replace them with its own staff. An exchange spokesman said CoinMarketCap “operates independently.”
Under the terms of the April deal, CMC founder Brandon Chaz stepped down as CEO. Carilyn Chan, then director of strategy, became the interim head.
Now with her two vice presidents have left CMC – Spencer Young and Jeremy Seow, global head of design and development Matthew Lipple and project leader Jared Chin.
Chan told the publication that they all “resigned.”
After CMC’s deal with the bitcoin exchange, CoinGecko co-founder and CEO Bobby Ong expressed the opinion that the service would lose its independence.
In May, CMC changed the ranking system for cryptocurrency exchanges, which allowed Binance to return to the top spot in the ranking.
In July, the service placed Binance Coin (BNB) at the top of the DeFi token rating by market capitalization. Following criticism on social media, CMC removed the coin from the list without explanation.