Cryptocurrency exchange KuCoin has denied rumors that the company may halt withdrawals due to losses amid the recent market turmoil.
KuCoin CEO Johnny Lyu expressed that he is not sure who spread such rumors or what their intentions might be. Lyu; Babel Finance pointed out that they do not cooperate with Three Arrows Capital or Luna. Crypto hedge fund Three Arrows Capital filed for bankruptcy on Friday. Lyu stated that the company has no plans to stop withdrawals and KuCoin is working well.
Saying that they are trying to create a FUD environment on Kucoin, KuCoin CEO Johnny Lyu emphasized that there is no problem. As of this morning, Kucoin CEO Johnny Lyu, who responded to the allegations on his official Twitter account, conveyed the following words.
"Be aware of FUDs! 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."
Noting that Kucoin has not been harmed by the collapses in the crypto industry, the famous CEO emphasizes that they have no plans to stop the shootings and that everything is going well.
"Some recent facts about #KuCoin and you can make your own judgment:
- We finished $150 M fundraising at $10 B valuation in May
- We are one of the few platforms that are still hiring
- We are more active in the bear market, launching new features like OCO order, fiat pair..."
Lyu concluded his tweet series with these words.
"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."