Johnny Lyu, CEO of crypto exchange KuCoin, has said the platform has no plans to stop withdrawals of user funds and has no problems with the balance.
In particular, he has said on Twitter:
"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."
Rumors of the company's insolvency have previously surfaced on the Internet. Some influencers have reported delays in processing withdrawal requests and encouraged users to transfer their assets to other platforms.
According to Lyu, KuCoin has sufficient balance sheet funds to weather the crisis after raising $150 million and reaching a valuation of $10 billion in May.
The company has reported it continues to hire new employees and will launch bear market-oriented tools such as fiat pairs and OCO orders.
Lyu has noted the exchange will publish its financial report for the first half of 2022 "soon." He has also stated KuCoin "reserves the right to "take legal actions" against people who spread "unverified information."
