Poloniex gets out of US - a bit of deeper digging
Today news hit that Poloniex is going out from Circle and stopping services for USA customers.
It seems Circle actually had to do that because it was now impossible to link CirclePay with exchanges - Poloniex lost its financial registerations and licenses.
Circle lost money onm this, bought exchange overpriced and then lost loads of clients, licenses and now had to sell it.
Who is the buyer? 100M Fund from Asia run by Justin Tron. The news are unofficial but seems big enough media places use the title and seem sure of it. Justin didnt say anything on the case for now.
For example CNBC`s Crypto Trader
If that is true we could expect TRX to get there as one of the top paired currency.
I wonder if they will go back to no KYC needed model like Binance and others have
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Yeah I just got a letter from them this morning.
Hello Poloniex Customer,
We are writing to inform you that Poloniex is spinning out from Circle into a new company called Polo Digital Assets, Ltd. This new company will have the full backing of a major Asian investment group, who intends to focus on the needs of global crypto traders.
Unfortunately, the Poloniex spin out will not include US customers, so Circle is winding down access to the Poloniex exchange for you and other US customers. Here is the wind down schedule:
October 18, 2019, US persons will no longer be able to create, or complete the set-up, of a new Poloniex account.
November 1, 2019, you will no longer be able to execute trades and should no longer deposit assets.
You will be able to access and withdraw your cryptocurrencies, through Circle until at least December 15, 2019.
The full announcement can be found here and our Customer Support Team is available to answer any questions you may have. Simply reply to this message and we will get back to you.
Team Poloniex
USA is always making hard for the Exchanges to survive in there!
tell me your secret
tomato
i thought beer ;)