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RE: Circle buys Poloniex for roughly $400 million
As they say, watch what they do, not what they say.
Interesting thing here is now we can put down a valuation for a U.S.-based exchange based on their volume. Poloniex had $152 million in volume last 24 hours vs Kraken $375 and Coinbase/GDAX $450 million. So you could argue Coinbase is worth 3x of Polo and therefore $1.2 billion.
Great points and likely get a greater multiple given their sponsors and that they are US based. It's def starting.