RATE Group | Tron Founder Justin Sun Admits to Investment in Crypto Exchange Poloniex
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Tron Founder Justin Sun Admits to Investment in Crypto Exchange Poloniex

17 Nov Tron Founder Justin Sun Admits to Investment in Crypto Exchange Poloniex

Posted at 10:14h in Cryptocurrency News by

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Tron (TRX) founder Justin Sun admitted to being one of the investors that recently acquired cryptocurrency exchange Poloniex from financial technology firm Circle.

Sun said he was one of the investors who acquired the trading platform in a livestream published by the official Poloniex Twitter profile on Nov. 12. Furthermore, he noted that the exchange operates independently from his firm, the Tron Foundation.

In October, Sun refuted reports suggesting that he is leading an investment group behind the acquisition of cryptocurrency exchange Poloniex. Following the acquisition, Poloniex spun out from Circle as an independent company. During the livestream, Sun claimed that the investors intend to help Poloniex grow. 

According to cryptocurrency market analytics platform Nomics, Poloniex is the 11th biggest cryptocurrency exchange by volume, processing $19.5 million over the 24 hours at press time. The website estimates that less than 1% of all the crypto trading volume takes place on…

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