Poloniex is bought by Circle

[Jalum]

I've stopped using Polo after they introduced a new set of insane terms and conditions last year (July/August 2017). The latest news has only strengthened my resolve not to use them again. I am not a fan boy of the likes of Goldman Sachs.

Even with the teaming up with Circe, I still would not use that website to trade coins because they have high fees and their support sucks.

[Thirdspace]

at the end of last year they started asking for Legacy account to get Verified
is this the reason why poloniex initiate "a major upgrade" of customer identification and verification systems?
would that be one of the requirements they have to do to make the acquistion/partnership to happen?

btw poloniex has released the official statement too
https://poloniex.com/press-releases/2018.02.26-Poloniex-joins-Circle/

[cosmoo]

Not the best exchange, I don't really like it. But it's good news for cryptocurrency world.
And I think that Poloneix was sold because it lost its popularity.

[Happyniall]

I would think that this is good for the crypto industry!!!

[RonJohannson]

Good news, given there is no way goldman would let one of their portfolio companies buy a bitcoin exchange without goldman's prior approval.  I think this is good, goldman goes where the money is!

[paulmaritz]

http://fortune.com/2018/02/26/circle-cryptocurrency-trade-bitcoin/

Did anyone see this? pretty big news. I wonder if there is any correlation between these news and the latest big green candle in the Bitcoin price we've seen? I mean Circle is backed by Goldman Sachs... I would be pretty sure some insider trading has been going on before the deal was made public.

Anyone still has funds in Poloniex? I haven't logged in for a long time. They used to let you trade anonymously, I had some stupid fake name on there because back then they didn't care. I assume that now that GS is in you can forget about that.

I’ve heard this and the only thing that is concerning to me is that one article links Circle to Goldman Sachs. They say that Circle is backed by Goldman Sachs, which means that a big bank is now in the cryptocurrency business. I don’t know if it’s a good idea for a big mainstream bank to have their hands in decentralized cryptocurrencies but I guess we’ll see what happens. I guess the positive is they may not fight it since they are invested in it.

Given the history of Goldman Sachs, they will most likely use Polo as a vehicle to manipulate prices and to cause all kind of shenanigans in the market. The fiat they invested is most likely of little concern to them as they have access to an almost unlimited stream of fiat - the very stream of fiat that they are so hell-bent to defend at any cost. They are not stupid. They understand that you have to get in and break it down from the inside out.

[lotfiuser]

i think thats good for poloniex as it was dieng it was top exchange but now its one of the worst and i think thats why they sell it they cant be on top anymore

[warrior333]

http://fortune.com/2018/02/26/circle-cryptocurrency-trade-bitcoin/

Did anyone see this? pretty big news. I wonder if there is any correlation between these news and the latest big green candle in the Bitcoin price we've seen? I mean Circle is backed by Goldman Sachs... I would be pretty sure some insider trading has been going on before the deal was made public.

Anyone still has funds in Poloniex? I haven't logged in for a long time. They used to let you trade anonymously, I had some stupid fake name on there because back then they didn't care. I assume that now that GS is in you can forget about that.

I do not believe that Poloniex can provoke a candle in the value of bitcoin. This exchange has long enjoyed a bad reputation. Maybe that's the reason for the sale. People are always looking for a reason where she's not. The popularity of bitcoin will grow. Price responds to the game of whales. Now they buy coins and very soon the price will rise. This will be the end of April or early may. Wait for the price of $ 25,000. This happens even if Poloniex will be closed.

[Traderbtcc]

It's actually a good thing because Poloniex lost its magic to bittrex last year and since then, The exchange has been having declining volume and decrease in the amount of users. I'm hoping that the new management can help Poloniex get its lost glory back. Congrats to the guys at Circle.

[DooMAD]

People seem to have short memories these days.  Circle basically opened fire on Bitcoin and its developers after their big PR show and dance to launch their service pretty much turned out to be a complete waste of time, effort and money.  They're clearly not in this because they care about Bitcoin.  Now they're buying an exchange because it's likely more lucrative than their first failed attempt?  No thanks.  I'll be steering clear of that.  Expect them to throw their toys out of the pram again if they lose money on this latest venture.  It's always someone else's fault with these parasitic leeches, who it seems had no idea what they were getting into last time.

Shame.  I used to like Polo.  They seemed like the "least bad" of all the exchanges.

[Washball]

This proofs that financial institutions will no longer fight cryptocurrencies, they can't beat them so they'll join them. That's the way opportunists think. Financial institutions will always look for ways to make money. On the other hand it would be more likely for Goldman Sachs to start their own exchange, instead of buying Poloniex.

[Nrcewker]

its great new specially for me or for other regular traders circle have a team of professionals and they will make lot of improvements in poloniex 1st of all they will improve support system. poloniex will be more bigger exchange best wishes for circle

[akamit]

http://fortune.com/2018/02/26/circle-cryptocurrency-trade-bitcoin/

Did anyone see this? pretty big news. I wonder if there is any correlation between these news and the latest big green candle in the Bitcoin price we've seen? I mean Circle is backed by Goldman Sachs... I would be pretty sure some insider trading has been going on before the deal was made public.

Anyone still has funds in Poloniex? I haven't logged in for a long time. They used to let you trade anonymously, I had some stupid fake name on there because back then they didn't care. I assume that now that GS is in you can forget about that.

I saw the news earlier today in another source (I don't remember), but it was saying that Circle and Polo are now partners.
Just now knew that Circle bought Polo. I hope Polo will be back to form as like before with the power of new owners.

[countryfree]

The good side of the news is that, at least, we know who is behind Poloniex. The bad is that I don't like these new owners. Obviously, they aren't anarchists who want to destroy the banking system... It could be good for BTC, though... Let's wait and see.

[figmentofmyass]

Anyone still has funds in Poloniex? I haven't logged in for a long time. They used to let you trade anonymously, I had some stupid fake name on there because back then they didn't care. I assume that now that GS is in you can forget about that.

you and a lot of other people.

they instituted new KYC requirements starting january 1st---no more fake names. full KYC with government ID and selfie required. however, their policy does state that you can continue to withdraw at your old limits if you don't verify. you just can't deposit or trade.

The good side of the news is that, at least, we know who is behind Poloniex. The bad is that I don't like these new owners. Obviously, they aren't anarchists who want to destroy the banking system... It could be good for BTC, though... Let's wait and see.

the first generation of exchanges was mostly run by anonymous or fly-by-night people. lots of exit scammers. no licenses, no reputation to back them up. we've never known anything about poloniex except the possibly fake name "tristan d'agosta" and a virtual office mailing address.

we may not like goldman sachs, but i prefer them to anonymous owners who could disappear at any moment.

[LeGaulois]

Yep, I got the news this afternoon. $400 million, not cheap. Let'see if they plan to improve the ghost support system as I remember users were complaining about it. You can almost be sure to see KYC verification if there isn't any already.

[sotoshihero]

Hopefully this can be a start of Poloniex returning to some of its former glory. Binance has completely overtaken the previous big 2 of bittrex and poloniex and they're now really quite inferior. New ownership could change this.

It's also good from the markets point of view as a bigger corporation is entering the cryptocurrency space. Expect to see more moves like this in the coming months and years.

I expect this too, with the change of ownership and management hopefully their customer service will improve. I have withdrawn also all my funds and leaving only less than a hundred dollar just in case for arbitration or If I am in mode to trade with their platform. I welcome this good news. Finally.

[BitHodler]

at the end of last year they started asking for Legacy account to get Verified
is this the reason why poloniex initiate "a major upgrade" of customer identification and verification systems?
would that be one of the requirements they have to do to make the acquistion/partnership to happen?

It might be the reason, but there is no way to prove anything in this case, especially with how other exchanges have done the exact same thing. From there it's safe to say that it is more likely related to increased regulations.

At some point we'll see even the most rubbish exchanges do the same, so it's not that people on Hitbtc and Yobit are safe from all these measures. It's either abiding by the rules, or get your but whooped by authorities.

It's a great move for people using that exchange, but I don't know how much of a good move it is from Circle's side. You may agree or not agree, but Poloniex is a falling knife, and you know what people say about falling knifes......

[simpleholmes]

the news would be great for crypto community as circle is backed by goldman sachs that means the huge whales are into the game and huge liquidity is in its way.

[Reez]

I hope this is good, I kind of miss Poloniex being cool, not sure how they fucked up. I guess it went all downhill when they removed the trollbox.

They also stopped adding coins, probably because of the SEC, maybe that will change now.