Earlier this week, it was announced that crypto exchange Poloniex would begin listing Tron pairings on their website and would allow customers to post limit orders for TRX/Bitcoin (BTC), TRX/Tether (USDT) and TRX/USD Coin (USDC). This announcement saw excitement from supporters of Tron and was yet another major platform that the token would be listed on which would help solidify its current status within the market and could also be a sign of future growth to come for the token and the company that backs it.
Now, in a livestream that was posted to the official Poloniex Twitter account on November 12, 2019, Justin Sun, who is the CEO of Tron, confirmed that he was one of the investors that took part in the acquisition of Poloniex from Circle.
Acquired and Listed
During the live stream, Sun stated that Poloniex will operate independently from the Tron Foundation which is Tron’s parent company. This comes after Sun had, back in October, refuted claims that he was leading an effort to acquire Poloniex from Circle. He stated at the time that he was an investor and listed some of the tokens he had put his money in but insisted that she was not leading any investments in acquiring Poloniex.
“Just invest some and help out my friends. Actually I have a huge bag of $BNB, $HT, $OKB etc and bet on all exchanges that support $TRX & $BTT,” he tweeted at the time.
According to Sun, the investors intend to help Poloniex grow over the years.
Poloniex as an exchange is a rather large one as it is listed as the 11th largest exchange by trading volume and according to reports, trades up to $19.5 million in a typical 24 hour.
Sun also stated that while a lot of newcomers in the culture industry might not know what Poloniex is, a few years ago it one of the most dominant cryptocurrency exchanges on the market and that this investment intends to help it regain that past glory and its place within the market.
“So Poloniex is definitely one of the […] biggest exchanges,” he said.