Once one of the most popular crypto exchanges, Poloniex, will soon be shutting its doors for the US Customers. Circle, a peer-to-peer payments technology company backed by Goldman Sachs and Baidu, acquired Poloniex in February 2018 for a whopping $400M.
In their latest post, Circle’s founders announced that Poloniex will now be spun off into Polo Digital Assets, Ltd, an Independent International company.
US Poloniex Customers Will Lose Access to Their Accounts
If you are a US resident and a holder of a Poloniex account, you need to pay attention to this announcement as you will soon lose access to your account. Please read the following announcement from Poloniex carefully:
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.
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