KuCoin CEO Says Ignore FUD, Denies Existence of a Plan To Halt Crypto Withdrawals

On Saturday, Johnny Lyu, Co-Founder and CEO of crypto exchange KuCoin, said that there was “no ‘immense suffer’ from any ‘coin collapse’, “no plan to halt withdrawal,” and that “everything on KuCoin is operating well.”

KuCoin, which was launched in September 2017, has its operational headquarters in Seychelles. It “offers over 700 digital assets, and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 18 million users in 207 countries and regions.” In 2022, the company “raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion.”

Lyu, who has been CEO of KuCoin since March 2020, took to Twitter earlier today to fight rumors being spread by certain people on Crypto Twitter about his company being in financial trouble. Here is an example of one of these FUD-spreading tweets:

This is how the KuCoin CEO started his Twitter thread:

He went on to say:

  • Some recent facts about #KuCoin and you can make your own judgment: – We finished $150 M fundraising at $10 B valuation in May – We are one of the few platforms that are still hiring – We are more active in the bear market, launching new features like OCO order, fiat pair…
  • 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. 🙏

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