Breaking News : Goldman Sachs owned Circle buys Poloniex Exchange for 400M USD

in cryptocurrency •  9 months ago

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Circle, a peer to peer payment system owned by Goldman Sachs just bought Poloniex for $400 million USD
https://www.nytimes.com/reuters/2018/02/26/technology/26reuters-crypto-currencies-circle.html

What do you think about this?

Legitimizing crypto for mainstream or attempts to take-over and centralize ?

Faster Poloniex support time ??!

Thoughts?

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Was actually going to post this. Thanks @dreamstream. This further supports many thoughts that the Street has been playing both sides like the good old trading days. Slam the asset class you want to go long, establish strategic positions and then formally support the asset class. We have also heard that prop desks have been going long crypto. Now with this acquisition, GS is clearly supportive. Another step towards legitimacy. Also provides more support for liquidity in the asset class.
Lets now see what JPM, CB and the others do.

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same old same old it seems

wonder what this will do for the price of BTC etc though going forward

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Right! I sense today's move up was partially driven by this announcement.

Good Fri...

I don't think GoldmanSachs/Circle bought Poloniex because they think that cryptos will fail.