Tron’s Justin Sun At the Center of Poloniex Exit from Circle; Just ‘Helping Out Some Friends’
Poloniex Cryptocurrency exchange is currently in the process of leaving its parent company, Circle. The firm recently announced that it would form Polo Digital Assets as a rebrand.
— Justin Sun (@justinsuntron) October 19, 2019
At the center of this major transaction is Tron Founder, Justin Sun. Anonymous sources from Circle confirmed to The Block that Justin is a major stakeholder in the ‘Asian Investment Group’. The firm is believed to be a major supporter of Poloniex in the exit process. The strategic exit comes less than two years since Circle acquired Poloniex.
Sources further revealed that Justin Sun had been to Circle’s HQ in Boston a few times. The Asian Investment Consortium under Justin is expected to play a major role in transitioning to Polo Digital Assets. As it stands, Poloniex internal employees have been offered the option to join the Crypto exchange as opposed to staying under Circle.
However, Justin recently tweeted that he is not buying anything, rather investing and to help his friends. He went on to further add that he bets on all exchanges that support TRX.