FTX After the bankruptcy of the stock market, the confidence of investors in crypto trading platforms was shaken. Among the crypto exchanges that made a statement about the transparency status of their platforms at the request of investors KuCoin was also added.
KuCoin manager Johnny Lyu talked about the status of his stock market and announced the reserves in a few tweets he published today.
From day 1 of building KuCoin, we have been transparent to our users. The overview of some of KuCoin’s hot and cold wallet addresses are clickable for their current holdings. https://t.co/zpjdlwoSpx https://t.co/vEuNY6LhW9
— Johnny_KuCoin (@lyu_johnny) November 11, 2022
“Since the first day we were established, we have always been transparent to our users. Under this tweet, I share KuCoin’s current assets with you.”
Johnny Lyu announced the current assets of the KuCoin exchange with the following figures:
- 20,504 pieces bitcoin
- 180,299 pieces Ethereum
- 1 billion 75 million USDT
- 365 million USDC
- 69 million units KCS (native token of the exchange)
The manager of the KuCoin platform announced that they currently hold more than 700 cryptocurrencies in their reserves. The figures given are for major cryptos only. Lyu also announced that they have locked 29,696 ETH in the Ethereum PoS system.
“FTX Exchange Didn’t Affect Us”
There has been a rumor circulating in the Twitter crypto community lately that the bankruptcy of the FTX exchange has hurt Crypto.com and KuCoin exchanges.
No, it’s false.KuCoin has no exposure on FTX or FTT. https://t.co/tF3uTJbUGE
— Johnny_KuCoin (@lyu_johnny) November 11, 2022
A foreign crypto-streaming YouTuber asked the CEO about whether they were affected by the collapse of FTX. Lyu explained that the KuCoin exchange did not suffer any losses due to FTX.
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