KuCoin chief executive officer knocks insolvency reports pointing out “no plan to stop withdrawal”

Crypto exchange KuCoin found itself at the center of conversation when a sub-community of Crypto Twitter started alerting financiers concerning an inbound ban on funds withdrawal. KuCoin CEO, Johnny Lyu, was nevertheless fast to reject the unvetted rumors prior to they grabbed steam.Prominent crypto

figures on Twitter, consisting of investor @KongBTC and also blockchain private investigator @otteroooo, requested their followers to withdraw all of their funds from the KuCoin while claiming that the exchange may soon stop all customers from withdrawing funds.WITHDRAW FROM KUCOIN NOW Not a drill no time

for string like as well as retweet to spread out the message otter

barely incorrect in such

matters– otteroooo( @otteroooo )July 2,

2022< script async src ="https://platform.twitter.com/widgets.js "charset="utf-8"> Reports linked KuCoin’s

intent to quit withdrawals with Terra’s (LUNA) and 3AC collapse, which according to the cautions, led to “immense endure” for the exchange due to high exposure to the dropped tokens.Be knowledgeable about

FUDs!

Not exactly sure that'' s spreading out these large reports, and also what their intents are, yet #KuCoin does not have any type of exposure to LUNA, 3AC, Babel, and so on.

No “immense endure” from any kind of “coin collapse”, no plan to stop withdrawal, whatever on KuCoin is operating well.

—– Johnny_KuCoin (@lyu_johnny) July 2, 2022

While disregarding the supposed reports through the above tweet, Lyu highlighted the company’s strong placement by divulging a current$150 million financing, which positioned the company’s appraisal at $10 billion in May 2022. He also explained that the firm is currently hiring for several placements, asking for financiers to make their own judgment amidst the continuous FUD– worry, unpredictability and also uncertainty:

“No “tremendous experience” from any type of “coin collapse”, no strategy to stop withdrawal, everything on KuCoin is operating well.”

Even more distancing KuCoin far from the insolvency reports, Lyu confirmed to share the firm’s 2022 H1 evaluation record with detailed information about their operations. He sent out an alerting to the people accusing KuCoin of closing down solutions and developing panic among capitalists:

“For FUDers who intentionally spread out unproven details, KuCoin books the right to take legal activities. Don’t FUD, BUIDL.”

Connected: Secure CTO refutes stablecoin FUD as short-sellers circle

Tether chief innovation officer Paolo Ardoino just recently disclosed that the stablecoin Tether (USDT) went through a “collaborated attack” by hedge funds seeking to short-sell the United States dollar-pegged crypto asset.1/ I have actually been open about the attempts from some hedge funds that were attempting to trigger more panic on the marketplace after TERRA/LUNA collapse.It actually seemed from the beginning a coordinated attack, with a new wave of FUD, troll armies, clowns
and so on https://t.co/hhcsgHV1Ow!.?.!— Paolo Ardoino( @paoloardoino)June 27, 2022 Ardoino claimed that Tether is working together with regulators as well as boosted transparency efforts,

as well as noting its recent dedication to phase out its business paper exposure.Title: KuCoin chief executive officer knocks insolvency rumors pointing out” no plan to halt withdrawal”Sourced From: cointelegraph.com/news/kucoin-ceo-slams-insolvency-rumors-citing-no-plan-to-halt-withdrawal!.?.!Published Day: Sat, 02 Jul 2022 12:12:29 +0100