Circle to Spin Out Poloniex Less Than 2 Years After $400 Million Takeover
Less than two years after paying $400 million to acquire Poloniex, Circle is spinning out the crypto exchange to an Asian investor group.
The new platform uses Tron's TRX token for purchases and its first project is within the Tron fold.
The cryptocurrency exchange – recently acquired by an investment group including Tron – now says its systems are back to normal.
An amended lawsuit alleging Tether and Bitfinex manipulated the bitcoin market is now claiming Poloniex and Bittrex were also involved.
The new KYC requirements come a week after Poloniex completed its U.S. exit.
Sean Neville, co-founder of Circle, is stepping down as co-CEO six years after founding the crypto trading and payments startup with Jeremy Allaire.