Bitcoin

KuCoin CEO Refutes Rumors that the Exchange Will Pause Withdrawals or Had Exposure to 3AC, LUNA or Babel Finance.

Abstract:

  • KuCoin CEO, Johnny Lyu, has debunked rumors that the trade will quickly pause withdrawals.
  • In response to Mr. Lyu, KuCoin doesn’t have direct publicity to collapsed LUNA, Three Arrows Capital, or Babel Finance.
  • He additional reassures that ‘every thing on KuCoin is working nicely.’

The CEO of KuCoin, Johnny Lyu, has refuted claims that the crypto trade is experiencing liquidity points that might trigger it to pause withdrawals in a way much like Celsius Community.

Mr. Lyu additionally clarified that the crypto trade has no publicity to collapsed LUNA, Three Arrows Capital, Babel Finance, or another crypto challenge present process monetary woes as a result of ongoing crypto winter. He shared his insights into the present operations at KuCoin by the next Tweet.

KuCoin is Dedicated to Being Clear.

KuCoin’s CEO went on to trace that the crypto trade was financially steady provided that it not too long ago completed a $150 million funding spherical in Might. He additionally identified that KuCoin is among the few crypto exchanges nonetheless hiring amidst the crypto winter, and it has been extra lively now in the course of the bear market by launching new options and merchandise.

As well as, he careworn KuCoin’s dedication to continuous transparency in its operations. He mentioned:

Being clear is at all times certainly one of our key rules.

We are going to quickly publish our 2022 H1 overview report the place you may 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 trade would quickly pause withdrawals as a result of its publicity to a number of the crypto tasks and hedge funds which have collapsed because of the crypto market drawdown.

Crypto neighborhood member @Ninjascalp chimed in on the state of affairs by the tweet under, questioning whether or not the trade had lent Three Arrows Capital some cash. He was additionally in search of solutions about how a distinguished crypto trade akin to KuCoin may go bancrupt.

Equally, crypto-community member @BuckleUpBrandon, questioned KuCoin CEO’s assertion that every thing is okay on the trade. In response to @BuckleUpBrandon, reassuring feedback from executives normally preceded the fact {that a} crypto challenge is on the point of 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 trade any time quickly.

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