KuCoin CEO Addresses FUD, Says Crypto Exchange Has Zero Plans To Halt Withdrawals

The chief executive officer of crypto exchange KuCoin is addressing the fear and uncertainty surrounding the platform and says that the company has no plans to halt its withdrawal services.

KuCoin CEO Johnny Lyu dispels rumors that KuCoin is in dire financial straits due to the firm’s alleged exposure to embattled crypto projects such as hedge fund Three Arrows Capital (3AC).

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“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,’ [and] no plans to halt withdrawal. Everything on KuCoin is operating well.”

Lyu goes on to highlight some recent fundamental details about the crypto exchange platform in an effort to prove that the gossip centered around KuCoin is false.

“Some recent facts about KuCoin and you can make your own judgment: –

-We finished $150 million fundraising at $10 billion 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 (one cancels the other) order, fiat pair.”

The CEO also says that KuCoin will be more transparent and could possibly bring legal action to those spreading false information.

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“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.”

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