A Boston company Circle can become a serious competitor to such giants as Coinbase, Bittrex and Kraken. According to Fortune, Circle has absorbed one of the largest exchanges in North America (Poloniex) for about $ 400 million.
Circle exists since 2013, and in 2016 it was worth $480 million. Its biggest investors are Goldman Sachs, Baidu and venture capitalist Jim Breyer. By the way, the latter has invested over 9 million US dollars in Bitcoin-platforms in 2013.
Prior to the takeover of Circle, Poloniex independently dealt with almost 70 types of cryptocurrency pairs, which made it necessary to withdraw exchange funds to fiat, which Circle Trade helped with.
Apparently, the decision to sell the company was confirmed after Poloniex faced a number of problems because of the large increase in new users. The number of customer complaints about problems with withdrawal of funds, account blocking and poor support services increased.