THE NEW FACE OF POLONIEX: WHY LOW PRICE IN STEEM
I was so surprised this week when I saw that Circle bought this crypto exchanger Poloniex for 400 million USD.
To my own point of view, Poloniex was one of the biggest and largest exchange for Steem and Sbd trading. There are 50 million USD worth of STEEM and SBD stored at Poloniex account.
Poloniex has also been having lots and lots of issues with its STEEM wallet for sometime now. I think it was under maintenance.
Circle happens to be a Goldman-Sachs backed company thereby bringing strong commitment to KYC/AML regulations. This new administration (Circle) Would want to strengthen identification requirements thereby freezing some account that are actually awaiting further verification.
Circle is investing also in one of the best blockchain start ups.
The only way out right now of Poloniex for STEEm holders it to sell their STEEM/SBD and cashout through other cryptos like BTC,ETH e.t.c.