This week Circle purchased the alt-coin exchange Poloniex for 400 Million USD. At the time of this post there were 50 million USD worth (14,479,783 STEEM and 471,577 SBD) stored at Poloniex account @Poloniex * Poloniex.com was one of the large exchange allowing STEEM and SBD trading. * Poloniex's STEEM wallet has been neglected / "Under maintenance" for more than a month. [(Last outgoing transfer was on Jan 27th)](https://steemit.com/@poloniex/transfers) * Circle is a Goldman-Sachs backed company thus will have stronger commitment KYC/AML regulations. People trading cryptos prefer to be anonymous so a lot of accounts might be registered with fake identities. There is a very high chance that the new administration will want to strengthen identification requirement and freeze some account awaiting of further verification. **Transition risks**, When exchanges change ownership and change operation team members there is an increased risk of major fuck-up like insiders hack and crypto theft. #### Right now the only way out of Poloniex for STEEM holders is to SELL their STEEM/SBD and withdraw through functioning cryptos like Bitcoin. <center>!(https://steemitimages.com/DQmU5sgcYeCLzZhTJgqbgN1XdJW3A7aAt82c43X4fWwnDsa/image.png)</center> For as long as Steem wallet is offline and the transition is happening I expect prices to be be lower at Poloniex and for other exchange to **sadly** follow Poloniex prices. On the good side, the extra cost you'll be paying at other exchanges will most likely turn out to be a great discounts once "Poloniex 2.0" fixes it's Steem wallet and improves overall. ### Brighter future: Given how bad Poloniex customer support was, how little improvement they made to their exchange and the very few new coins support I think it can only get better. Circle has a very solid banking relationship. If they enable Fiat on-ramp it would make STEEM market much more easily accessible to outside investors. ### If you have STEEM stuck at Poloniex, I'd be interested to know why (after so many outages) and what do you plan on doing with it during the transition?