Quote from: LeGaulois on February 26, 2018, 10:15:07 PM

Yep, I got the news this afternoon. $400 million, not cheap. Let'see if they plan to improve the ghost support system as I remember users were complaining about it. You can almost be sure to see KYC verification if there isn't any already.

Tin foil hat: engage.

This acquisition isn't about acquiring a profitable business; the $400 million price tag is irrelevant. This is about Wall Street gaining an investment foothold in the market. The cryptocurrency markets are far too illiquid for Wall Street firms with deep balance sheets to acquire positions in BTC and other coins. I've been watching firms like GS operate for a long time; they typically spend 2-5 years accumulating stocks before a significant mark-up and massive rally.

They don't have nearly enough time for that in this case. The next best thing? Buy an exchange, churn out percentage commissions, and hold the coins.

Quote from: gentlemand on February 27, 2018, 12:28:46 AM

One of the most interesting things this raises is tether. Circle must be planning on flushing it away ASAP but the fact they'd buy somewhere currently balls deep in it implies some deeper knowledge of it.

In before Tether markets get de-listed. Tongue

That "deeper knowledge?" They got the green light from US regulators. Carte blanche, clean slate:

Quote from: exstasie on February 26, 2018, 08:50:31 PM

Here's a slide from a Circle presentation that was leaked this morning. Check out the second section in particular:

Basically, Circle told the SEC that they would turn Poloniex into a fully registered/licensed broker-dealer. In return, the SEC said they wouldn't pursue enforcement actions for any past behavior.

Poloniex is in the clear now. I suspect Bitfinex and Tether won't be so lucky. In fact, I really don't think either of them will be operational a year from now.