Nothing spreads faster than sensational rumours, but the Crypto coin KuCoin has refuted rumours of facing insolvency or halting withdrawals. This happened when Twitter saw trending hashtags like “KuCoin bankrupt”, “KuCoin insolvent,” and “KuCoin withdraw” for the last 24 hours with over 25,000 tweets.
To burst this typical ‘FUD bubble’, Johnny Lyu tweeted out refuting all these rumours and clarified that the crypto exchange is operating well. Lyu revealed that KuCoin has no exposure to Terra LUNA, Three Arrow Capital, Babel Bank, etc.
He said that the KuCoin community recently finished $150 Million fundraising at a $10 B valuation in May. He further added that the firm is one of the few platforms that is still hiring.
The tweet also informed that the coin is more active in the bear market, launching new features like OCO order, and fiat pair.
The crypto firm is expected to publish the 2022 H1 review report soon so that hodlers can know more about their operations.
Meanwhile, the CEO also mentioned taking legal actions against the miscreants who were involved in spreading unverified information around Twitter.
The CEO concluded by saying not to FUD but rather BUIDL.
Also read: Bankman-Fried Warns of Insolvency of Some Crypto Exchanges
