Goldman Sachs + SEC = Circle Acquires Poloniex ♥
Circle just announced that it is acquiring U.S.-based cryptocurrency exchange Poloniex. According to Fortune, Circle is paying $400 million for the acquisition. Circle Trade fosters liquidity between a handful of fiat currencies and cryptocurrencies, and has big investors — including Goldman Sachs, Chinese Internet giant Baidu, and venture capitalist Jim Breyer. In Circle’s last round of funding, in June 2016, Circle was valued at $480 million. (It’s no doubt worth a lot more now.)
Poloniex has been around for years and used to be one of the biggest exchanges out there — there are now many exchanges competing with Poloniex. Circle Trade also powers Circle Pay behind the scene; Circle Trade manages $2 billion a month in transactions; and Centre is a protocol that is seeking to make Alipay, PayPal, Circle and other digital wallets interoperable.
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