The chief executive officer of the cryptocurrency exchange KuCoin is responding to the apprehension and confusion around the platform, stating that the firm has no intentions to suspend withdrawal services.
KuCoin CEO Johnny Lyu dispels claims that the company is in serious financial problems owing to its reported exposure to troubled crypto ventures, such as Three Arrows Capital (3AC).
“It’s unclear who is circulating these baseless claims and what their motivations are, but KuCoin has no exposure to LUNA, 3AC, Babel, and so on. No ‘immense suffering’ as a result of a ‘coin crash,’ and no intentions to suspend withdrawal. Everything works well on KuCoin.”
In an attempt to disprove the rumours surrounding KuCoin, Lyu continues by highlighting some recent essential data regarding the cryptocurrency trading site.
“Here are some current statistics concerning KuCoin from which you may form your own opinion: – In May, we concluded $150 million in financing at a value of $10 billion.
Our platform is one of the few that is currently recruiting. We are more active in bear markets, introducing new features like OCO (one cancels the other) orders and fiat pairs.”
Additionally, the CEO asserts that KuCoin will become more open and may pursue legal action against people who spread incorrect information.
“Transparency is always one of our core values. We will shortly release our H1 review report for 2022, in which you may learn more about our activities. KuCoin retains the right to take legal action against FUDers who knowingly publish unverified information.
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