Over the weekend, the Chief Government Officer of KuCoin Alternate Johnny Lyu allayed all Fears, Uncertainties, and Doubts (FUD) associated to rumours spreading on Twitter because the buying and selling platform could halt withdrawals as a result of misery by the continuing market meltdown in market.
Talking to Twitter, Lyu mentioned there’s completely no plan to halt withdrawals and that, in contrast to the claims that the agency is having liquidity points, it has no publicity to crypto tasks and firms which might be struggling in the intervening time together with LUNA, and Three Arrows Capital (3AC) amongst others.
“Pay attention to FUDs! Unsure who’s spreading these sheer rumours, and what their intentions are, however #KuCoin doesn’t have any publicity to LUNA, 3AC, Babel, and so forth. No “immense undergo” from any “coin collapse”, no plan to halt withdrawal, every little thing on KuCoin is working nicely,” Lyu mentioned in his quick Twitter thread.
In a bid to additional exert his stance that the trade is faring nicely, the CEO shared the corporate’s milestones because the making an attempt instances the ecosystem is going through achieve momentum. Lyu implied that the trade has adequate liquidity, going by its large valuation of $10 billion following the $150 million raised again in Could.
KuCoin is extra lively on this bear market and comes off as one of many worry exchanges after Binance and BitGet which has introduced plans to repeatedly rent earlier than the top of the yr, Lyu added. Slamming these spreading unverified info, Lyu mentioned the corporate’s efficiency report for the primary quarter of the yr will quickly be launched.
“Being clear is at all times one among our key ideas. We’ll quickly publish our 2022 H1 overview report the place you’ll be able to know extra about our operations. For FUDers who deliberately unfold unverified information., KuCoin reserves the fitting to take authorized motion. Do not FUD, BUIDL,” he mentioned.
Justifiably so, plenty of crypto-linked firms, together with Three Arrows Capital (3AC), and Babel Finance are at the moment extremely distressed at the moment.
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