2 years ago
Summary:
- KuCoin CEO, Johnny Lyu, has debunked rumors that the speech volition soon intermission withdrawals.
- According to Mr. Lyu, KuCoin does not person nonstop vulnerability to collapsed LUNA, Three Arrows Capital, oregon Babel Finance.
- He further reassures that ‘everything connected KuCoin is operating well.’
The CEO of KuCoin, Johnny Lyu, has refuted claims that the crypto speech is experiencing liquidity issues that could origin it to intermission withdrawals successful a mode akin to Celsius Network.
Mr. Lyu besides clarified that the crypto speech has nary vulnerability to collapsed LUNA, Three Arrows Capital, Babel Finance, oregon immoderate different crypto task undergoing fiscal woes owed to the ongoing crypto winter. He shared his insights into the existent operations astatine KuCoin done the pursuing Tweet.
Be alert of FUDs!
Not definite who's spreading these sheer rumors, and what their intentions are, but #KuCoin does not person immoderate vulnerability to LUNA, 3AC, Babel, etc.
No “immense suffer” from immoderate “coin collapse”, nary program to halt withdrawal, everything connected KuCoin is operating well.
— Johnny_KuCoin (@lyu_johnny) July 2, 2022
KuCoin is Committed to Being Transparent.
KuCoin’s CEO went connected to hint that the crypto speech was financially unchangeable fixed that it precocious finished a $150 cardinal backing circular successful May. He besides pointed retired that KuCoin is 1 of the fewer crypto exchanges inactive hiring amidst the crypto winter, and it has been much progressive present during the carnivore marketplace by launching caller features and products.
In addition, helium stressed KuCoin’s committedness to continual transparency successful its operations. He said:
Being transparent is ever 1 of our cardinal principles.
We volition soon people our 2022 H1 reappraisal study wherever you tin cognize much astir our operations.
For FUDers who intentionally dispersed unverified info, KuCoin reserves the close to instrumentality ineligible actions. Don’t FUD, BUIDL.
More On the Rumors that KuCoin Was Insolvent and Would Pause Withdrawals.
As mentioned earlier, KuCoin’s CEO refuted rumors circulating connected crypto-twitter that the crypto speech would soon intermission withdrawals owed to its vulnerability to immoderate of the crypto projects and hedge funds that person collapsed arsenic a effect of the crypto marketplace drawdown.
Crypto assemblage subordinate @Ninjascalp chimed successful connected the concern done the tweet below, questioning whether the speech had lent Three Arrows Capital some money. He was besides seeking answers astir however a salient crypto speech specified arsenic KuCoin could spell insolvent.
Can idiosyncratic explicate to me, however does KuCoin spell insolvent?
did they lend wealth to 3AC oregon something…
I mean however bash you power "billions", spot retail positions and not person delta neutral hedge… seems similar exit scam to maine pic.twitter.com/f1CLBv7Ced
— Ninja (@Ninjascalp) July 1, 2022
Similarly, crypto-community subordinate @BuckleUpBrandon, questioned KuCoin CEO’s connection that everything is good astatine the exchange. According to @BuckleUpBrandon, reassuring comments from executives usually preceded the world that a crypto task is connected the brink of collapse. He explained:
I don’t wanna beryllium ‘The KuCoin FUD guy’, but for what it’s worth, virtually each azygous level said this earlier they went belly up lol. I anticipation KuCoin is good truthful I tin spell backmost to trading there, but for present I’m not depositing funds connected their speech immoderate clip soon.
English (US) 