Last of the V8s
Legendary
*
Online Online

Activity: 1176
Merit: 2241


Be a bank.


View Profile Personal Message (Online)

Ignore
February 05, 2019, 04:01:30 AM

https://www.theblockcrypto.com/2019/02/04/prop-firms-are-hard-to-sell-shares-for-crypto-exchange-circle-are-being-offered-at-a-massive-discount/
Quote
Still, it does indicate that some shareholders in Circle view the firm as less valuable. “{I] reckon it’s a combination of liquidity discount applied to private companies + crypto bear market + Circle getting absolutely killed on write down of acquisitions + bear market volumes,” one U.K.-based crypto hedge funder said. In 2018, Circle acquired crypto exchange Poloniex, which has seen its trading volumes collapse since it was scooped up by the firm. Today, it sees less than $7 million worth of crypto trade hands each day. Meanwhile, Binance sees approximately $520M in 24-hour trading volumes, whereas Coinbase Pro sees $37M in daily trading volumes.
Excellent news.