Twitter Facebook LinkedIn Flipboard 0 The cryptocurrency space has been filled with FUD over the past few weeks, following liquidity issues affecting some leading firms, such as Three Arrows Capital, Celsius, and BlockFi. Rumors on Twitter also started spreading the news that KuCoin was planning to halt withdrawals. KuCoin CEO says the exchange is still strong KuCoin, one of the largest crypto social trading platforms, found itself trending on crypto Twitter after several people urged investors to withdraw their funds from the exchange due to a looming ban on withdrawals. However, the CEO of the exchange, Johnny Lyu, has quickly dismissed these claims. Some of the popular people in the crypto community, such as blockchain analyst @otteroooo and trader @KongBTC, advised their followers to withdraw funds from KuCoin, claiming that the exchange would soon follow other exchanges such as Celsius and BlockFi, which have already halted withdrawals. The rumors also said KuCoin had been affected by the ongoing market conditions. The collapse of Terra LUNA and Three Arrows Capital reportedly led to the exchange suffering, as it had significant exposure to the fallen companies. However, Lyu has dismissed these claims saying that the company was not exposed to LUNA, 3AC, and Babel. Lyu released a Twitter thread dismissing these claims saying, “No ‘immense suffer’ from any ‘coin collapse,’ no plan to halt withdrawal, everything on KuCoin is operating well.” He also said that the company had a strong financial position that enabled it to meet its obligations. KuCoin’s strong financial position The KuCoin CEO disclosed that the exchange recently closed a $150 million funding that increased the company’s valuation to $10 billion in May 2022. He further noted that the company had several open positions and was still hiring staff, contrary to exchanges such as Coinbase, Gemini, and Crypto.com that have laid off staff because of the ongoing market conditions. Lyu further dismissed the rumors of insolvency and shared a review report for the first half of 2022. The report detailed KuCoin’s operations, proving that the exchange was operating normally and would not shut down its services. The CEO has also issued s warning to the people spreading these rumors against the exchange and creating panic among the exchange’s users. “For FUDers who intentionally spread unverified info, KuCoin reserves the right to take legal actions. Do not FUD, BUIDL,” Lyu added. Related Is KuCoin Insolvent? Crypto Contagion, Safe Exchanges 12 Best Crypto Exchanges USA 2022 – Find A Crypto Trading Platform Best P2P Crypto Exchange 2022 – Top P2P Exchanges Compared Crypto Signals - Learn to Trade Our Rating Free Telegram Community & VIP Channel 3 - 5 Crypto Signals Daily VIP Access when Opening an Exchange Account Market News & Technical Analysis - cryptosignals.org Learn More Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk. Twitter Tweet Facebook Share Email This article was written for Business 2 Community by Ali Raza.Learn how to publish your content on B2C Join our Telegram channel to stay up to date on breaking news coverage Author: Ali Raza Follow @ali_r1272 Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Invezz.com, InsideBitcoins, BeinCrypto, and more.View full profile ›More by this author:Indian EV Start-up Exponent Energy Makes Rapid Charge BreakthroughMeta Brings Out New Reels Features for Instagram and FacebookWill Ripple Price Reach $1? Should You Buy XRP or Tamadoge?