KuCoin CEO slams insolvency rumors citing “no plan to halt withdrawal”
Rumors linked KuCoin’s intent to stop withdrawals with the Terra (LUNA) and the 3AC collapse, which according to the warnings, led to “immense suffer” for the exchange. Crypto exchange KuCoin found itself at the center of discussion when a sub-community of Crypto Twitter started warning investors about an incoming ban on funds withdrawal. KuCoin CEO, Johnny Lyu, was however quick to dismiss the unvetted rumors before they picked up steam.Prominent crypto figures on Twitter, including trader @KongBTC and blockchain investigator @otteroooo, requested their followers to withdraw all of their....
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KuCoin utility token KCS has been in a sluggish condition in the last few days, as the major cryptocurrency exchange faces a flood of insolvency rumors. Tuesday’s CoinMarketCap statistics reveals that the price of KSC has decreased by 17.35 percent over the previous week, trading at $8.74 at the time of writing. According to certain sources, KuCoin had exposure to Terra’s doomed LUNA and UST cryptocurrencies as well as insolvent crypto hedge firm Three Arrows Capital. KuCoin is the fifth largest cryptocurrency exchange in the world, with a 24-hour trading volume of $927....
On Monday, June 13, 2022, the crypto economy dropped below the $1 trillion region, as a great majority of crypto assets have lost between 10% to 25% during the last 24 hours. Meanwhile, the crypto community has been discussing the cryptocurrency lending application Celsius as rumors of insolvency have been swirling. On June 12, around 10:10 p.m. (ET) Celsius announced that it paused “all withdrawals, swaps, and transfers between accounts.” Celsius Pauses Lending Application’s Operations, Crypto Community Talks About a Possible Insolvency and Liquidations On Sunday....
Insolvency rumors regarding Coinbase, the largest US-based crypto exchange, going insolvent are currently circulating in the virtual stratosphere. Are they true? It’s not clear yet. What is clear though is that rumors like these are not good to the overall health of the broader crypto market. What the crypto space needs today is news like new companies launching, hiring […]
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Co-founder Kalin Metodiev stated that comparisons between Celsius, Voyager and Nexo are “very far from reality” and that the firm is focused on building in a sustainable way. Bankruptcy or insolvency is not in “Nexo’s reality” according to the crypto lending platform’s co-founder and managing partner, Kalin Metodiev. In an Ask Me Anything (AMA) video posted via YouTube on Oct. 4, founders and managing partners Metodiev and Antoni Trenchev addressed community questions and recent FUD-related rumors that Nexo could soon face insolvency issues. Responding to a question about the....