Tron CEO Justin Sun admits Crypto Exchange Poloniex investment

Tron (TRX) CEO Justin Sun confessed to being one of the investors who recently purchased Poloniex’s cryptocurrency exchange from Circle, a financial technology company. Let’s check to Tron CEO Justin Sun admits Crypto Exchange Poloniex investment.

Sun said he was one of the investors who purchased the trading platform in a Livestream published on November 12 by Poloniex’s official Twitter account. He also noted that the exchange operates independently of his company, the Tron Foundation.

Sun denied rumours in October claiming that he heads an investment group behind the purchase of Poloniex’s cryptocurrency exchange. Poloniex spun out of Circle as an independent company after the takeover. Sun claimed the investors intend to help Poloniex grow during the live stream.

Poloniex is the 11th largest cryptocurrency exchange by volume, processing $19.5 million over 24 hours at press time, according to cryptocurrency market analytics platform Nomics. The website reports that Poloniex accounts for less than 1 per cent of all the volume of crypto trading.

Sun said that, while people new to crypto may have never heard of Poloniex, about two years ago it was one of the most popular cryptocurrency exchanges, stating:

“So Poloniex is definitely one of the […] biggest exchanges.”

While Sun stated today that Poloniex would operate independently of the Tron Foundation, the news of his platform investment follows closely on the heels of Tron’s Poloniex listing. Customers can begin posting limit orders for TRX / Bitcoin (BTC), TRX / Tether (USDT) and TRX / USD Coin (USDC), as the exchange announced yesterday.

According to data from Coin360, the coin has not responded significantly to the news and is up 1.46 per cent over the past 24 hours to trade at $0.019 at press time.

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#Cryptocurrencies #Altcoin News #Cryptocurrency Exchange

#cryptoexchange #Poloniex

#TRON #JustinSun

