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Jul 2, 2022
by Jafrin Ahmed
KuCoin CEO Denies Rumors of Halting Exchange Withdrawals
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Johnny Lyu, the CEO of KuCoin cryptocurrency exchange has refuted rumors that the platform has halted withdrawals on their platform owing to the heavy losses suffered due to the LUNA collapse.
KuCoin CEO Clarifies Withdrawals FUD
"Not sure who's spreading these sheer rumors, and what their intentions are, but #KuCoin does not have any exposure to LUNA, 3AC, Babel, etc. No "immense suffer" from any "coin collapse," no plan to halt withdrawal, everything on KuCoin is operating well."
To assure confidence among users, Lyu noted that the exchange recently finished its $150 million fundraising in May 2022 taking the company valuation to $10 billion. He also added that while many crypto exchanges have announced layoffs, KuCoin continues to grow with more hiring including launching new features like OCO order, fiat pair etc.
He further threatened legal actions against those trying to spread the FUD and maligning the exchange, by saying:
"Being transparent is always one of our key principles. We will soon publish our 2022 H1 review report where you can know more about our operations. For FUDers who intentionally spread unverified info, KuCoin reserves the right to take legal actions. Don’t FUD, BUIDL."
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.