Abstract:
- KuCoin CEO, Johnny Lyu, has debunked rumors that the change will quickly pause withdrawals.
- Based on Mr. Lyu, KuCoin doesn’t have direct publicity to collapsed LUNA, Three Arrows Capital, or Babel Finance.
- He additional reassures that ‘all the things on KuCoin is working properly.’
The CEO of KuCoin, Johnny Lyu, has refuted claims that the crypto change is experiencing liquidity points that might trigger it to pause withdrawals in a fashion much like Celsius Community.
Mr. Lyu additionally clarified that the crypto change has no publicity to collapsed LUNA, Three Arrows Capital, Babel Finance, or every other crypto undertaking present process monetary woes as a result of ongoing crypto winter. He shared his insights into the present operations at KuCoin via the next Tweet.
Pay attention to FUDs!
Unsure who’s spreading these sheer rumors, and what their intentions are, however #KuCoin doesn’t have any publicity to LUNA, 3AC, Babel, and so forth.
No “immense undergo” from any “coin collapse”, no plan to halt withdrawal, all the things on KuCoin is working properly.
— Johnny_KuCoin (@lyu_johnny) July 2, 2022
KuCoin is Dedicated to Being Clear.
KuCoin’s CEO went on to trace that the crypto change was financially steady provided that it not too long ago completed a $150 million funding spherical in Might. He additionally identified that KuCoin is without doubt one of the few crypto exchanges nonetheless hiring amidst the crypto winter, and it has been extra energetic now throughout the bear market by launching new options and merchandise.
As well as, he burdened KuCoin’s dedication to continuous transparency in its operations. He mentioned:
Being clear is all the time certainly one of our key rules.
We’ll quickly publish our 2022 H1 evaluation report the place you possibly can know extra about our operations.
For FUDers who deliberately unfold unverified information, KuCoin reserves the best to take authorized actions. Don’t FUD, BUIDL.
Extra On the Rumors that KuCoin Was Bancrupt and Would Pause Withdrawals.
As talked about earlier, KuCoin’s CEO refuted rumors circulating on crypto-twitter that the crypto change would quickly pause withdrawals as a consequence of its publicity to a number of the crypto initiatives and hedge funds which have collapsed because of the crypto market drawdown.
Crypto neighborhood member @Ninjascalp chimed in on the scenario via the tweet beneath, questioning whether or not the change had lent Three Arrows Capital some cash. He was additionally looking for solutions about how a distinguished crypto change resembling KuCoin might go bancrupt.
Can somebody clarify to me, how does KuCoin go bancrupt?
did they lend cash to 3AC or one thing…
I imply how do you management “billions”, see retail positions and never have delta impartial hedge… looks like exit rip-off to me pic.twitter.com/f1CLBv7Ced
— Ninja (@Ninjascalp) July 1, 2022
Equally, crypto-community member @BuckleUpBrandon, questioned KuCoin CEO’s assertion that all the things is okay on the change. Based on @BuckleUpBrandon, reassuring feedback from executives normally preceded the fact {that a} crypto undertaking is getting ready to collapse. He explained:
I don’t wanna be ‘The KuCoin FUD man’, however for what it’s price, actually each single platform mentioned this earlier than they went stomach up lol. I hope KuCoin is ok so I can return to buying and selling there, however for now I’m not depositing funds on their change any time quickly.
