Honestly if Circle suddenly wants back into the crypto game by buying Poloniex, then they must think that they are going to make a killing in the future. And fyi Circle is partially owned by Goldman Sachs.
Something big is coming.
But... at only $400 million it is a steal. The only thing I can think that explains the deal it is that Poloniex owners have already made a killing and just want to exit with their asses fully covered (the contract will probably show that).
What I mean is that it is not like they had paid 10 billion (Instagram) or something like that which would clearly represent their willingness to have some REAL skin in the game.
I consider it "somewhat" bullish though... but not terribly bullish.
I agree, what is $400 mil when, according to rumors, they had $250 mil in revenue last quarter.
With lots of customer complains (although I liked their trading interface), they brought it as far as they could, possibly.
Now Circle will muck it up with stupid tries of "upsell".