Poloniex crypto exchange is going through a rough financial phase therefore it was recently sold by their former owner the Circle Group.
It was reported that Justin Sun, the co-founder of the Tron foundation also invested a significant amount in the exchange after denying it earlier. Justin Sun while tweeting about his investment in the exchange assured that Tron and Poloniex will work independently.
However, Poloniex was at the receiving end of crypto twitter when a tweet from its official handle asked everyone to buy Tron. The shilling of Tron by the exchange did not go down well with the crypto community on Twitter, and after receiving lots of criticism from the community Poloniex decided to delete the tweet after 28 minutes.
A famous Twitter handle which goes by the name Crypto_Deleted_Tweets keeps a tab on the archive of deleted tweets posted the tweet of Poloniex.
Poloniex deleted after 28 minutes pic.twitter.com/OJrsspkqmU
— Crypto_Deleted_Tweets (@CryptoDeleted) December 1, 2019
Poloniex falls from grace
Poloniex was among top exchanges just last year when it was bought by Goldman Sachs backed Circle Group. The community was very disappointed in the exchange and believed shilling a controversial token like Tron shows that the exchange has hit rock bottom and ready to do whatever it takes to survive. One twitter user wrote,
“Using ICO money to buy a defunct exchange and shill a shitcoin. Lmao what year is it?”
While another commented,
“Poor Polo, what have they done to you.”
While rumors about Sun planning to acquire Poloniex were rife almost months before he publicly announced his investment in the firm. Reportedly Sun visited Circle's headquarters personally to ensure he gets to acquire the falling exchange.
Sun is not among the most liked personalities in the crypto-verse mainly because of his over the top promotional tactics, and shilling of his token. The majority of the public is afraid that Poloniex might become another mouthpiece for the controversial CEO.