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 the activities of a major Asian 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”.

I'm not buying anything. Just invest some and help out my friends. Actually I have a huge bag of $ BNB , $ HT , $ OKB etc and bet on all exchanges that support $ TRX & $ BTT . ?

– Justin Sun (@justinsuntron) October 19, 2019

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.

Writing has been on the wall for a while.

Polo has 1% market share, down from 60 +% during the 2017 btc peak. I had heard rumors Circle was looking to finance through an IEO to save Polo, engaged with other exchanges to be bought. We will see if this Hail Mary pass works. https://t.co/1KSRu5uQem

– Frank Chaparro (@fintechfrank) October 18, 2019

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

My guess is that Poloniex will soon introduce their exchange token and try to compete with Binance / Huobi / OKEx. And Circle will likely be acquired by one of the big players in the US. They've been shopping around looking for an exit https://t.co/DTonDKYVnF

– Larry Cermak (@lawmaster) October 18, 2019

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.

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