As the sell-off in the cryptocurrency market continues, sparked by the FTX liquidity crisis spilling over to other participants in the sector, the CEO of KuCoin decided to publicly address the allegations that his trading platform was struggling with insolvency.
Indeed, KuCoin’s CEO Johnny Lyu criticized the recent ‘FUD’ (Fear, Uncertainty, and Doubt) around his crypto exchange which, as he said, was “probably the tenth time in the past 6 months some rumor on Twitter circulates that KuCoin is ‘insolvent,’” in his blog post published on November 9.
Specifically, after crypto analytics platform Nansen published its exchange stablecoin outflow chart, which, according to Lyu, mistakingly showed an ERC20 to TRC20 translation as $300 million draining from his platform, rumors started circulating about KuCoin being in trouble.
Misunderstood data
As he explained, the information was a simple misinterpretation which has been cleared in the meantime:
“We went to great lengths to
We współpracy z: https://finbold.com/kucoin-ceo-officially-denies-rumours-of-exchange-being-insolvent/
