Tron Founder Stops Denying His Investment in Poloniex Crypto Exchange
NEWS
November 13  |  2 min read

Tron Founder No Longer Denies Financial Involvement in Poloniex

The COIN360 Editorial Team

During the Tron-Poloniex event on November 12, the founder of crypto platform Tron, Justin Sun, after initially denying it, confirmed that he was among several investors that invested in the crypto exchange Poloniex buy-out, emphasising that the exchange operates independently from his company.

Justin Sun added that cryptocurrency exchange Poloniex is among the biggest in the blockchain industry and “is going to grow,” therefore he is looking forward to future collaborations, like listing Tron’s tokens on the exchange or airdrop campaigns. Without revealing any details, he also mentioned that Tron plans to collaborate with the exchange on trading.

Additionally, the Tron founder clarified Poloniex’s strategy to attract Chinese investors. In his words, users from China will be able to access services via a new domain, pwang.com, and submit Chinese ID for the account verification KYC process.

In October, US-based digital asset exchange Poloniex announced a spin out from Circle to become Polo Digital Assets, Ltd., and stopped serving U.S. citizens with an aim to focus on the “needs of global crypto traders with new features, assets and services.” Founded in 2014, the crypto exchange Poloniex was bought by fintech firm Circle for $400 million in 2018.