Poloniex being sold off and new company is dropping US customers

in blocktrades •  5 years ago 

This isn't a big issue, as far as I'm concerned, we already closed our account at Poloniex a while back. Their service had become terrible (deposit/withdrawal paths were often down).

And most recently, they dropped support for a number of coins, including Steem. I guess all that may have been related to this sale of the company (or "spin out", as they like to call it, since there's a larger company, Circle, that had bought Poloniex a while back).

I'm pasting the contents of the email I received, as it might be of interest to non-US people as well, who won't receive the email, I suppose (or if it lands in your spam folder, like my copy did):

Hello Poloniex Customer,

We are writing to inform you that Poloniex is spinning out from Circle into a new company called Polo Digital Assets, Ltd. This new company will have the full backing of a major Asian investment group, who intends to focus on the needs of global crypto traders.

Unfortunately, the Poloniex spin out will not include US customers, so Circle is winding down access to the Poloniex exchange for you and other US customers. Here is the wind down schedule:

October 18, 2019, US persons will no longer be able to create, or complete the set-up, of a new Poloniex account.

November 1, 2019, you will no longer be able to execute trades and should no longer deposit assets.

You will be able to access and withdraw your cryptocurrencies, through Circle until at least December 15, 2019.

The full announcement can be found here and our Customer Support Team is available to answer any questions you may have. Simply reply to this message and we will get back to you.

Team Poloniex

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Most of the traders and crypto investors come from the US i don't understand why they did not allow US to trade at their new Poloniex. will they stay longer on that idea? will! let see what they can do.

Kurata

hahaha😂😂

  ·  5 years ago Reveal Comment
  ·  5 years ago (edited)Reveal Comment

Now i understood,so it is not easy for them also because of that difficulties,and i am sure the new owner comes from asia and they are just taking the best and easy way for their exchange.

LOL, Justin Sun is the leading investor. It's going to be an exchange focused on Tron, I guess.

  ·  5 years ago Reveal Comment

It seems to me they're moving to Asia to escape USA regulations. Also, Asia has been notorious for shady exchanges, so Poloniex joining them is a big question mark for me.

In the end, I don't give a shit about Poloniex, I stopped using them 2 years ago (I know many people did too) for their incompetence, lack of support and constant "maintenance" on coins which always seem to happen "conveniently" in the thick of high volumes.

I said it once, and I say it again when they delisted STEEM: good riddance.

The U.S is getting more and more behind when it comes to crypto.

So glad Poloniex is no longer holding steem, they've been horrid as a service provider and lots of shady news around it too. I think coins are just so desperate to be on an exchange and get sort of volume that they make these deals with the devil

'Spin' usually means 'misdirect'.. Good to see the spinning of spin itself. haha

  ·  5 years ago (edited)

74 dollars and trending for this?
Not bad.

Thank you for this public announcement @blocktrades. Initially, the news that Circle had invested in them sounded like a positive development, but ... Guess not.

My own experience with them was uhhh ... "less than optimum," so I am not personally too distressed by this news. I only dealt with them, when they were the only accessible source of crypto in which I was interested. Thankfully, I had gotten my deposits safely withdrawn sometime ago ...

I coulda swore Square or Circle bought them out a couple years back?

  ·  5 years ago (edited)Reveal Comment

Ahh, they don't trade Steem anymore so good riddance I suppose. Haven't touched Poloniex in at least 2 1/2 or 3 years.

Why is this copypasted paragraph trending??

@blocktrades for life son!

Good riddance 😌😌. Jerky exchange

Posted using Partiko Android

Cryptos will always try to scape regulations. There is no way to scape this.

Posted using Partiko Android

@tipu curate

Upvoted 👌 (Mana: 17/37)

Does this affect any Blocktrades trades into other exchanges and wallets?

  ·  5 years ago Reveal Comment

Cool. Thanks for the info.

Thanks for the update. @blocktrades.

Posted using Partiko Android

  ·  5 years ago Reveal Comment

Good Bye Poloniex...Shit exchange

Posted using Partiko Android

The new exchange for TRON

Posted using Partiko Android

Moved to the Hive platform.

que locura vale

Poloniex + trx = 💩

Posted using Partiko iOS

this thing even exist hahah never used that for more than a year but thanks for informing

Dropping steem like flies

That is bad business to drop the world's largest consumer of goods and services which is u.s.a