The head of KuCoin denied rumors about the insolvency of the company

The head of KuCoin denied rumors about the insolvency of the company

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<p>The KuCoin cryptocurrency exchange does not plan to stop the withdrawal of user funds and does not experience balance problems. This was stated by the CEO of the company Johnny Liu. </p>
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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

https://twitter.com /KongBTC/status/1543013948122955776?ref_src=twsrc%5Etfw

According to Liu, KuCoin has enough balance sheet funds to weather the crisis as the platform raised $150 million in May 2022 at a valuation of $10 billion

He noted that the company continues to hire new employees and launch bear market-oriented tools like fiat pairs and OCO orders.

Liu stressed that the exchange will publish its financial report for the first half of 2022 “soon”. He also stated that KuCoin “reserves the right to prosecute” individuals who spread “unverified information.” 

Recall that FTX CEO Sam Bankman-Fried warned of the “hidden insolvency” of some bitcoin exchanges third tier.

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