Circle payment platform buys Poloniex exchange estimably for $400 mln

The cryptocurrency exchange called Poloniex, one of the biggest and most popular crypto trading platforms at the press time, has been acquired by Circle, a payment organization. Poloniex has even sent a special email message about this event to those registered on its website. The community estimates the deal sum to be $400 mln.

Observers, namely Alexander Kuptsikevich, financial analyst from FXPro, tell that Circle has Goldman Sachs as one of investors. Mr. Kuptsikevich is also seeing this event as part of a bigger trend of mergers and acquisitions that has recently emerged on the whole cryptocurrency market. The market is currently relatively calm, the common people lost interest towards Bitcoin and other cryptocurrencies, and this is the time when investors are acquiring various assets without unnecessary fanfare, FXPro analyst concludes.

Poloniex has managed to keep a decent reputation as a cryptocurrency exchange, which has very likely contributed to the final decision of Circle. For example, the trading platform claimed that it will identify users in accordance with the classic banking KYC (Know Your Client) principle, which is still not necessary for every crypto exchange to do.