Tron Founder Justin Sun Invests in Crypto Exchange

 

Tron founder Justin Sun told that he is one of the investors that recently acquired crypto exchange Poloniex from financial technology firm Circle, despite the reports he made in October, telling that he has nothing to do with the investment group that purchased the crypto exchange.

Sun made the announcement via official Twitter account of Poloniex. In addition, he mentioned that the crypto exchange operates separately from the Tron Foundation. After the acquisition, Poloniex has become an independent company. During the livestream and as Sun stated during the livestream of Poloniex, investors have an intention to help the exchange grow. 

As stated by Nomics which is a cryptocurrency market analytics platform, Poloniex is the 11th largest exchange by volume, processing  around 19.5 million USD over the 24 hours (at the time). As claimed by the analytics platform, less than 1% of all the crypto trading volume is carried out on Poloniex.

As Tron founder mentioned, about 2 years ago Poloniex was one of the most popular crypto exchanges, mentioning: “So Poloniex is definitely one of the biggest exchanges.”

 

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