TRON founder Justin Sun is heavily involved in the “Asian investment group” that is backing Poloniex as it spins out from Circle, several Circle employees told The Block under the condition of anonymity.

Less than two years after being acquired by Circle, cryptocurrency exchange Poloniex announced on Friday that it is leaving its parent company and will form into a new firm named Polo Digital Assets.

According to sources, Justin Sun is leading the Asian investment consortium involved in the spinoff and has made an appearance at Circle’s Boston headquarters yesterday and today. Poloniex employees were also allegedly offered an opportunity to join Poloniex rather than to stay at Circle, said a source.

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