47 0 0 0 13 6. Circle’s purchase of Poloniex moves it closer to building a Wall Street-style bank around the tech behind Bitcoin. Circle, a should i invest in cryptocurrency reddit-focused financial-services firm, will announce today that it is buying crypto exchange Poloniex—a move that immediately makes Circle one of the largest and most influential companies in the industry.
Fortune’s Robert Hackett profiles a company that hopes to leverage the technology behind Bitcoin to become the bank of the next century. On a crisp mid-January morning, I arrive at the Boston headquarters of Circle, a cryptocurrency startup, just as the markets tank. As the day unfolds, virtual coins hemorrhage billions of dollars in value. It’s one of the market’s worst one-day routs in a winter full of them. But Circle’s office is unusually tranquil.
No managers are throwing a hissy fit. And CEO Jeremy Allaire is the calmest of all. The boss, who resembles a softer Steve Ballmer, saunters past a klatch of employees chowing down on Aussie-style meat pies. After all, whether the markets sink or soar, Circle is set to make a killing.