Tron Founder Invests In Crypto Exchange Poloniex
November 14, 2019 12:03 am
Justin Sun, Tron (TRX) founder admitted that he is one of the investors of cryptocurrency exchange Poloniex from financial technology firm Circle. On 12th November, Justin made a video on Twitter stating that he is one of the investors of Poloniex. He also noted that the exchange operates independently from his firm, the Tron Foundation.
In October, Sun highlighted reports which mentioned 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. In the video, Sun also said that the investors intend to help Poloniex grow.
According to 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 Poloniex.
Sun mentioned that, while people are new to crypto may have never heard of Poloniex, about two years ago it was one of the most popular cryptocurrency exchanges.
“So Poloniex is definitely one of the […] biggest exchanges.”