Crypto Critics' Corner cover image

The Many Faces and Citizenships of Justin Sun

Crypto Critics' Corner

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Poloniax

Poloniax was one of like the o g crypto exchanges, famous for its troll box where traders would be able to send messages to each other while they were trading these ship coins. Circle acquired it in 20 18, and they updated the compliance procedures and made all the traders on it go through now your customer checks. At that point, the volume on polonia dropped from like pretty meaningful to basically nothing. And circle, pretty quickly afterwards, was looking to dump it, leading to justin son's acquisition. He then started re structuring the company, trying to put it behind a bunch of holding companies across several different jurisdictions in a very binance sk regulatory arbitrage type strategy. But

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