Controversial Deleted Tweet by Poloniex Unearthed

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Prerna Sengupta
Prerna Sengupta is a writer for Thecoinrepublic. She is a law student at NALSAR University of Law, Hyderabad. She is interested in Tech Law and is especially keen on cryptocurrency, blockchain, and Bitcoin. She hopes to pursue this field in the future as a lawyer.

Controversial Deleted Tweet by Poloniex Unearthed

  • Poloniex endorses TRON in a new tweet which was deleted.
  • People speculate that Poloniex may have hit rock bottom.
  • TRON’s plans of acquiring Poloniex.

American digital exchange, Poloniex seems to have hit rock bottom especially after a controversial deleted tweet was unearthed yesterday. The tweet said, “Let’s buy #TRON” leading to many speculations and comments by the crypto community.

There have been widespread rumors of TRON’s founder Justin Sun planning to purchase Poloniex but nothing has been confirmed yet. Earlier this week Poloniex acquired TRXMarket which is a decentralized TRON based digital exchange. The acquisition was made with an intention to expand its crypto trading platform and provide their customers with several new options.

In fact, a spokesperson from Poloniex also said that the company intends to continue poloniex on Tron’s Public chain affirmed that they recognize the rate of TRON’s ecosystem expansion. They, therefore, intend to continue their operations through the public blockchain of TRON as their basic infrastructure. They believe that under Justin Sun’s leadership the ecosystem will grow at an increasing rate.

The exchange was purchased by Goldman Sachs backed Circle in 2018 but they have failed to make an impression due to Poloniex’s declining profitability. According to various sources, TRON has made appearances at the Circle headquarters to figure out an acquisition deal. There also have been rumors of Circle selling its stake in Poloniex, especially after Circle employees were laid off this year.

The controversial tweet was deleted 28 minutes after being posted and was uncovered by a Twitter bot. People took this endorsement as a sign of the digital exchange atrophying. There was an announcement of TRON and Poloniex but no significant move has been taken and there have been no updates whatsoever. Poloniex is planning to rebrand to Polo Digital Assets sometime in 2020.

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