Tron (TRX) founder Justin Sun admitted to being one of the investors that recently acquired cryptocurrency exchange Poloniex from financial technology firm Circle. Sun said he was one of the investors who acquired the trading platform in a livestream published by the official Poloniex Twitter profile on Nov. 12. Furthermore, he noted that the exchange operates independently from his firm, the Tron Foundation. In October, Sun refuted reports suggesting that he is leading an investment group behind the acquisition of cryptocurrency exchange Poloniex. Following the acquisition, Poloniex spun out from Circle as an independent company. During the livestream, Sun claimed …
Poloniex, a veteran exchange that was recently purchased by a consortium including Tron founder Justin Sun, has launched Binance Coin (BNB) and Binance USD (BUSD) pairings. As of June 6, BNB and BUSD wallets are now live on the exchange, with markets for the corresponding pairings slated to launch in post-only mode to ensure stability before full trading functionality rolls out. Binance tokens listed on Poloniex The listings bring support for six new pairings, with Binance Coin now tradeable against Bitcoin (BTC), Tether (USDT), and Tron (TRX) in addition to BUSD, and Binance USD also supported against USDT and BTC. …
Over the last few days, the centralization versus decentralization row has erupted in earnest. In case you missed it, the activities of Tron founder Justin Sun following his takeover of blogging site Steemit have been pivotal to the controversies. Let’s briefly recap. Earlier in February, it emerged that Sun was further expanding his crypto-empire with the acquisition of Steemit, which runs on the Steem blockchain. Steem was developed by Daniel Larimer, who also introduced the delegated proof-of-stake governance model, or dPoS, to the blockchain sphere. Larimer later went on to build EOS, which also runs on dPoS. Related: Steemit Managing …
On March 3, Binance CEO Changpeng Zhao announced that the exchange had removed its votes that contributed to a sudden shift of control over the Steem blockchain. Earlier today, leading exchanges Binance, Huobi, and Poloniex came under fire for allegedly mobilizing customer deposits to vote in what has been described as a hostile takeover of popular crypto blogging platform Steemit. Steemit’s native blockchain Steem uses a proof-of-stake protocol — where a small number of “witnesses” are voted on to secure its network. Votes are allocated according to the number of tokens that an individual holds in their wallet. Steem’s witnesses …
Stablecoin operator Tether accidentally minted and subsequently burned 5 billion USDT tokens, Whale Alert tweeted on July 13. Whale Alert — a Twitter account dedicated to reporting large cryptocurrency transactions — noted that 50 million USDT tokens were transferred from cryptocurrency exchange Poloniex to the Tether Treasury via the Omni protocol on the Bitcoin (BTC) blockchain. The account subsequently reported that Tether Treasury minted 5 billion USDT tokens on the Tron blockchain, after which it burned them. Then, Tether minted another 50 million USDT on the same chain, burned another 4.5 billion USDT, and finally transferred 50 million Tron-based USDT …