To our valued customers,

Lenders affected by the CLAM market crash in 2019 are now eligible for a non-transferable lifetime trading fee waiver. Please continue reading for an update on the matter.

You are receiving this email because, according to our records, you were a lender impacted by the CLAM market crash that occurred in May 2019. At the time of the CLAM market crash, Poloniex was fully owned by Circle Internet Financial Limited (“Circle”). In October 2019, Circle sold Poloniex to a private investment group, and a new company called Polo Digital Assets Ltd. (“PDAL”) was formed.

As a condition of the sale, Circle (and its affiliates or subsidiaries) agreed to retain all responsibility for the CLAM market crash that took place prior to the acquisition. In good faith, PDAL has continued to reimburse trading fees for impacted customers since the acquisition, with the understanding that Circle would address the matter in a timely manner.

As of February 2022, PDAL is still receiving reports from affected customers that no further action has been taken by Circle.

PDAL has communicated with Circle to convey the impact this incident has had on our customers, and has urged them to resolve the matter as soon as possible. Circle has asked PDAL to instruct affected customers to direct all further inquiries directly to Circle, using the “Request Help” link found at:

https://support.poloniexus.com/hc/en-us

We are fully aware that this has taken a long time to resolve, and we share the frustration of our affected customers. Ultimately, responsibility lies with Circle to bring closure to this matter, but as a token of our appreciation for their patience, we are awarding affected lenders with a non-transferable lifetime trading fee waiver. If you are eligible, we will automatically apply the waiver to your account; no further action is required.

Thank you for sticking with us, and please be sure to follow up with Circle regarding next steps.