Bitcoin Forum

Circle’s Poloniex Sees 190% Jump in Crypto Trading Volumes, Overtakes Bittrex
Poloniex, one of the oldest crypto exchanges in the global market, has become a major digital asset trading platform once again after years of stagnation.

Until 2015, Poloniex was one of the largest crypto exchanges alongside Coinbase. It was the go-to exchange for traders investing in smaller trading pairs like tokens and alternative cryptocurrencies.

But, controversy around the legitimacy of the exchange and the operating team of Poloniex led the platform lose out in tight competition, falling behind Bittrex, Bitfinex, Binance, OKEx, Huobi, HitBTC, and many other major cryptocurrency exchanges.

Circle’s Acquisition Leads to Revival
In February, Circle, a cryptocurrency and blockchain company that raised hundreds of millions of dollars from large venture capital firms throughout the past few years, acquired Poloniex for over $400 million.

At the time, the acquisition of Poloniex was controversial, primarily due to the stagnation of the exchange and the emergence of new exchanges like Binance and Huobi that started to gain dominance over the market.

While the Circle team spoke highly of Poloniex and its core development team, the community was not convinced that the exchange should be valued at $400 million.
https://www.ccn.com/circles-poloniex-sees-190-jump-in-crypto-trading-volumes-overtakes-bittrex/

Don't forget: Both Circle and Poloniex are owned by Goldman Sachs.   ;)

A conveniently omitted point.

A substantial amount of crypto regulation may also be written by banks. This precedent applies not only to the USA or europe but to the entire world. Global crypto markets are by and large regulated by banking institutions.

Coulld big players in an industry also having the power to regulate their own markets constitute a conflict of interest as well as an unfair advantage over smaller players with less capital and resources? Hm, well. I doubt anyone will ever pose that question in any relevent setting. Although I might go so far to say that it could be worth asking at some point.

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I've found this whole scenario very strange indeed.

Hundreds of millions were spent. The site looks just the same. Most of the shitcoins are still the same. Customer service sounds as shit as ever. Is this the best that finance professionals can manage? Almost nothing has changed in the best part of a year.