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CoinDesk acquires CCData and CryptoCompare to enhance cryptocurrency data offerings, expanding market reach and improving tools for investors.
Key Notes
CoinDesk has acquired CCData and its retail arm CryptoCompare to strengthen its cryptocurrency data offerings.CCData has over 300,000 users and is recognized as a leading data provider in the digital asset space.CoinDesk plans to integrate CCData’s robust platform and retail tools to improve existing products and services.CoinDesk announced that it had acquired CCData, a crypto data provider, and its retail arm CryptoCompare. The idea behind the acquisition is part of CoinDesk’s plan to expand its market reach by integrating CCData’s robust platform into existing products.
CCData has over 300,000 users and offers tools for regular investors, which could help the media company grow in the market. CoinDesk CEO Sara Stratoberdha stated that CCData has grown to become one of the top data providers in the digital asset space over the last ten years. Over the years, many people have used it to understand cryptocurrency. She said:
“Over the past ten years, CCData has become one of the most respected and reliable data platforms for digital assets, earning the trust of numerous users seeking to understand and leverage their potential.”
She added that they are excited to start using CCData’s strong data platform and its retail tools in CoinDesk’s current products and services. She believes that by doing this, it will open more opportunities for its customers.
“We are thrilled to begin integrating CCData’s high-quality, robust, and trusted data platform and retail suite across CoinDesk’s existing products and services to unlock greater opportunities for our customers,” she said.
CoinDesk launched its CoinDesk 20 index earlier this year. It is like a big scorecard for the cryptocurrency market, just like the S&P 500 and Dow Jones Industrial Average are for regular stocks. The integration of CCData’s services is expected to enhance the accuracy and reliability of CoinDesk’s data offerings.
Enhancing Data Offerings
CEO and Co-Founder of CCData Charles Hayter mentioned that they are excited to join forces with CoinDesk. He praised CoinDesk as a major player in the digital asset sector. Charles added that he is proud of what CCData and CryptoCompare have achieved over the years. He said:
“CoinDesk is an integral pillar of the digital asset sector, from its award-winning journalism to its flourishing index business. I am deeply proud of what CCData and CryptoCompare have accomplished over the past decade, and with CoinDesk as our partner, I’m confident that we will continue to build a legacy that supports and empowers our clients and the broader crypto industry.’
Bullish, CoinDesk’s parent company, offers perpetual features based on the CD20 index. Top companies such as GSR have executed option trades linked to it.
Furthermore, Onramp Invest has included the CD20 index in its services for Registered Investment Advisors (RIAs). This helps these advisors use the CD20 index as a standard way to measure how well digital assets are performing when evaluating their clients’ investment portfolios.
With this new deal, CoinDesk aims to be a top source of cryptocurrency information and provide better tools for users to understand digital assets.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
