Circle abandons Poloniex! Circle abandons Poloniex after just one year. Circle had bought Poloniex for $400 million dollars!
In a blog post, Poloniex announced that they were spinning out from Circle into a new company. They plan on spending over $100 million to develop a new exchange platform. One of the chief reasons why they were separating was that it would “free us to focus on the needs of global crypto traders with new features, assets, and services.”
The new name will be “Polo Digital Asset” and they will not serve US customers. According to the blog post, US users will no longer be able to create new accounts on Poloniex. Trading will also become unavailable for US customers starting Nov. 1st.
What do you think? Have you been using Poloniex? What exchange do you use now? First Binance, now Poloniex! What’s next? Let us know on our Facebook page!
