Justin Solar-owned Poloniex has introduced fee-free buying and selling for any consumer who enrols in its “Poloniex Super” membership, which presently gives 30 days’ price of fee-free “spot, margin, and futures trading.”
Poloniex has but to announce what this membership will price as soon as the 30-day interval has elapsed, although it does point out that “[a]fter the trial period ends, you will be automatically enrolled in the basic Super plan by default.”
This product announcement has led customers to ask how Poloniex will earn cash with out charges. Solar shortly defined that Poloniex has no want to make more cash as a result of “we already made enough from the bitcoin (BTC) we bought in 2012.”
For ardour. We already made sufficient from the Bitcoin we purchased in 2012.
— H.E. Justin Solar 👨🚀 🌞 (@justinsuntron) March 16, 2026
Poloniex was based in 2014 and due to this fact couldn’t probably buy any BTC in 2012, so presumably Solar is referring to BTC he bought.
This assertion that Poloniex can proceed to function based mostly solely on these income brings to the forefront issues about how Poloniex has managed the BTC in its reserves.
In 2020 Poloniex supplied a brand new product, which it described at completely different occasions as “BTC on TRON” and “BTCTRON.”
This preliminary announcement described BTCTRON as “a type of wrapped BTC token that exists on the TRON blockchain.”
Poloniex’s Assist Middle offers us the contract handle for this token, TN3W4H6rK2ce4vX9YnFQHwKENnHjoxb3m9.
Reviewing this contract handle reveals that this token presently has a circulating provide of 17,545 BTC, price roughly $1.3 billion.
Disturbingly, Poloniex’s so-called “proof of reserves” claims that Poloniex has a stability of solely 11,090 BTC in its whole reserves and 11,082 of these are “User Balance.”
That is inadequate to order this tokenized BTC product.
Protos has beforehand repeatedly reached out to Poloniex throughout our previous reporting on this product, and it has by no means been prepared to offer the addresses that maintain the BTC for this tokenized product.
We tried to achieve out to Poloniex once more; nonetheless, it didn’t present these addresses earlier than publication.
Growing the priority about this product is how deeply it has been built-in into one other Solar-owned alternate, HTX.
At HTX, usually there may be extra of this mysterious BTCTRON product, which offers no transparency, than actual BTC.
As of the newest HTX snapshot, dated March 1, there have been a complete of 21,362 BTC on HTX. BTCTRON accounted for 10,291 of these.
There are additionally an extra 1,212 BTC which can be within the type of Solar-advised Wrapped Bitcoin.
As of March 1, there have been a complete of 21,362 BTC on HTX.
What this implies, taken as an entire, is that Poloniex won’t disclose the place the $1.3 billion in BTC that’s alleged to collateralize this product is positioned.
But regardless of that truth, HTX is prepared to make it an enormous portion of its reserves, all whereas Solar claims that Poloniex can afford to supply “fee-free” buying and selling due to the appreciation within the worth of bitcoin.
Maybe as a substitute of creating grandiose claims concerning the worth of his BTC, Solar ought to as a substitute work on fixing the obvious BTC shortfall on the exchanges he owns.
