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Johnny Lyu, the CEO of KuCoin cryptocurrency exchange has refuted rumors that the platform has halted withdrawals on their platform owing to the heavy losses suffered due to the LUNA collapse.
KuCoin CEO Clarifies Withdrawals FUD
In a Twitter thread published on July 2, the CEO of KuCoin stated that the platform has no plan to halt withdrawal and that everything is operating well.
"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."
https://twitter.com/lyu_johnny/status/1543062670341206016 To assure confidence among users, Lyu noted that the exchange recently finished its $150 million fundraising in May 2022 taking the company valuation to $10 billion. He also added that while many crypto exchanges have announced layoffs, KuCoin continues to grow with more hiring including launching new features like OCO order, fiat pair etc. He further threatened legal actions against those trying to spread the FUD and maligning the exchange, by saying:
"Being transparent is always one of our key principles. We will soon publish our 2022 H1 review report where you can know more about our operations. For FUDers who intentionally spread unverified info, KuCoin reserves the right to take legal actions. Don’t FUD, BUIDL."