Cryptocurrency exchange KuCoin completely denied the allegations that it stopped shooting on its platform due to the heavy losses it suffered during the LUNA collapse.
The CEO reported that they had no exposure whatsoever to assets such as LUNA 3AC, Babel.
KuCoin CEO: “We Have No Exposure to Assets Like LUNA, 3AC, Babel”
KuCoin’s CEO, Johnny Lyu, made a statement on the subject earlier today. Lyu wrote in one of his latest tweets:
“Beware of FUDs! I’m not sure who spread these sheer gossip and what their intentions were, but KuCoin’s LUNA, 3AC, Babel etc. has no exposure to any assets. That’s why we haven’t suffered from any major “coin crashes”, we have no plans to stop shootings. Everything works fine on KuCoin.”
Inspiring confidence among the users of the stock market, the CEO stated that the stock market has recently reached a valuation of 10 billion dollars by organizing a financing round of 150 million dollars in May. He also added that while many crypto exchanges announced layoffs, the company continues to grow with more hiring even in these critical market conditions.
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.
— Johnny_KuCoin (@lyu_johnny) July 2, 2022
Lyu also announced that they could take legal action against those who try to spread FUD and disparage the stock market. Lyu wrote:
“Being transparent is always one of our core principles. We will soon publish our 2022 H1 review report, where you can learn more about our operations. Our exchange reserves the right to take legal action against FUDERs who deliberately disseminate unverified information. Don’t FUD, BUIDL”.
*Not investment advice.