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4) And it happened, in part, because Binance further hurt CMC's reputation by the perception of bias. A perception of bias did the damage. But there was also actual bias. @OKEx is currently ranked #37: coinmarketcap.com/rankings/excha Tell me that's reasonable, I dare you.

SBF

@SBF_FTX

Oct 4, 2020

@coingecko

is the better product. But that's been true for a while. And if you look at what's happened _recently_ -- Gecko has gotten better. But CMC is a world of difference.

SBF

@SBF_FTX

Oct 4, 2020

6) A year ago, CMC wasn't even close. 80% of the 'top' exchanges were fake. It was a matter of finding the real ones, not removing the fakes. It was a running joke how bad it was.

SBF

@SBF_FTX

Oct 4, 2020

7) And now, it's... not that bad. OKEx is egregious, but the top 10 spot are overall somewhat reasonable. Top 10 derivatives could use a bit more work, but it's like 70% correct, which is still way better than before.

SBF

@SBF_FTX

Oct 4, 2020

8) And, I mean, I don't *know* why. But I have a guess. Pretty much the day Binance bought CMC, it started getting better -- a lot better. It has a lot of catching up to do, but the product has gone from hopelessly fucked to competitive.

SBF

@SBF_FTX

Oct 4, 2020

9) And in the end the perception of bias, combined with the historical sins and the actual bias, might do it in. Plus, CoinGecko keeps getting better: they're hungry. But for CMC, there's hope; their BTC pricing is no longer 1% off, and their exchange lists are useful.