Payment company Circle has announced that it has purchased Poloniex cryptocurrency exchange. Rumors of the acquisition had been circulating for weeks, and were finally confirmed today in press releases issued by both parties. Poloniex is one of the most well established cryptocurrency exchanges, but has been stagnating. It is hoped that the partnership will revitalize its fortunes while bolstering Circle’s presence in the crypto market. When the story of Circle purchasing Poloniex surfaced on an obscure site called Modern Consensus, it was shot down as fake news. It turns out, the story was accurate and the news was very real. “Circle and Poloniex Accelerate the Emerging Token Economy” reads the headline of the press release Circle issued on February 26 at 8am NYT. Circle is already invested in crypto via its Circle Trade app, but Poloniex connects it to a main artery at the heart of the crypto ecosystem.