KuCoin Exchange’s Chief Executive Officer, Johnny Lyu, has continued to dispel all rumours that the trading platform is turning insolvent.
Otteroooo operates more like a whistleblower to alert users to companies' struggles in the Centralized Finance (CeFi) ecosystem. It acquired a massive following up until it deleted the account.
Per the whistle blown on KuCoin, he calmed the exchange does not have the liquidity issue that it can use to process customer redemption as it concerns its exposure to the Terraform Labs ecosystem tokens LUNC and wLUNC.
In a blog post with evidence of the conversations between himself and Otteroooo, Lyu explained that the only exposure that KuCoin has to the LUNA ecosystem tokens is because it supports the trading of those coins.
“It is our responsibility to keep them secure and make sure users can always withdraw in full whenever they want. Having a LUNC wallet does not necessarily mean KuCoin as a company is holding lots of LUNC tokens, and I’m sure the...
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