September 20, 2020

The media found out who is behind the new operator of the Bitcoin exchange Poloniex

TRON founder Justin Sun leads or is actively involved in a major Asian an investment group that will support Polo Digital Assets, the new operator of the Poloniex bitcoin exchange. This is reported by The Block, citing informed sources in the startup Circle.

Justin Sun wrote that he doesn’t buy anything, but invests a little to “support friends”.

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The founder of TRON added that he holds significant amounts in exchange tokens BNB, HT and OKB, as well as "puts" on any exchange that adds TRX and BTT coins.

Poloniex's market share fell from 60% at the peak of 2017 to 1%. Circle allegedly considered conducting an IEO or selling the entire site to another player.

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The Block analyst Larry Chermak suggested that Poloniex will soon launch its own token and enter the battle with Binance, Huobi and OKEx.

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According to him, now and Circle is looking for a buyer in the United States.

A day earlier, Poloniex announced the separation from Circle and the termination of services for US residents. The exchanges will spend $ 100 million on long-term development.

Recall, Circle acquired Poloniex in early 2018. The deal allegedly cost the startup $ 400 million.