According to a recent tweet from Wublockchain, The Poloniex exchange, which Justin Sun acquired from Circle in 2019, will merge with his recently acquired Huobi exchange, according to sources familiar with the matter. Coingecko shows that Poloniex’s daily spot trading volume is only 1/10 of Huobi’s.
On November 24th, deposits and withdrawals for stablecoins on the BEP20 (BSC) network were suspended by the cryptocurrency exchange Poloniex. These include Binance’s own BUSD as well as USDT, USDC, and TUSD. However, the cryptocurrency exchange did not elaborate on the reasons behind its unexpected suspension of BSC stablecoin services.
Written by: Qadir AK