• Market Cap: $1,085,658,897,554.89
  • 24h Vol: $27,490,126,592.55
  • BTC Dominance: 47.16%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

KuCoin CEO denies rumors of insolvency

Jon Hartney by Jon Hartney
July 6, 2022
in Bitcoin, Blockchain, Business, Market
0
KuCoin CEO denies rumors of insolvency
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin Price Could See Recovery If It Holds This Key Support

Bitcoin Price Could See Recovery If It Holds This Key Support

September 27, 2023
AirBit Club ‘ponzi’ co-founder gets 12 years prison

AirBit Club ‘ponzi’ co-founder gets 12 years prison

September 27, 2023


Crypto Twitter has been filled with rumors about the KuCoin exchange facing insolvency. These rumors have affected the price of KuCoin’s native token, KCS, which has been down by 15.6% during the past week.

The market is reacting to these rumors because of the recent events in the market. Several cryptocurrency exchanges such as Celsius, Vauld, and BlockFi have halted withdrawals because of the ongoing market conditions.

Rumors of KuCoin’s insolvency

KuCoin is the fifth-largest cryptocurrency exchange globally by trading volumes. Data from CoinGecko shows that the KCS token ranks as the 53rd largest cryptocurrency, with a market capitalization of $876 million at the time of writing.

The KCS token has been wobbling because of the rumors on Twitter claiming that KuCoin was on the verge of insolvency. Twitter reports claimed that the exchange was exposed to the collapsed Terra LUNA, Three Arrows Capital, and Babel Finance. However, the CEO of KuCoin, Johnny Lyu, has dismissed these claims.

Buy Bitcoin Now

Your capital is at risk.

Lu said that these rumors were simply spreading FUD about the exchange, adding that he was unclear of the intentions of the people behind the rumors. He assured users that the exchange was operating normally and even threatened to take legal action against those spreading these unfounded rumors.

The collapse of several crypto firms

The current market conditions have exerted pressure on firms that did not have a strong financial footing. The collapse of the Terra LUNA network was among the first factors triggering the insolvency of firms such as Three Arrows Capital that were exposed to the crashed LUNA token.

Interestingly, the insolvency of several platforms started as rumors on Twitter. For instance, before the Celsius Network halted swaps, withdrawals, and transfers, there were rumors from Twitter users that the DeFi platform was under water. These claims were strongly denied by the CEO of Celsius. A few days later, the platform halted services citing extreme market conditions. Celsius is reportedly in the process of filing for bankruptcy.

Some cryptocurrency firms have been straining to sustain liquidity because of the ongoing bear market. Some of the largest exchanges, such as Coinbase, Gemini, and Crypto.com, have announced plans to lay off staff and freeze hiring because of the bear market. The CEO of KuCoin has maintained that the company’s financial position was still strong, adding that it was among the few firms still hiring.

Read more:

  • How to buy Cryptocurrencies
  • How to buy Bitcoin

Lucky Block – Our Recommended Crypto of 2022

Our Rating

Lucky Block
  • New Crypto Games Platform
  • Featured in Forbes, Nasdaq.com, Yahoo Finance
  • LBLOCK Token Up 1000%+ From Presale
  • Listed on Pancakeswap, LBank
  • Free Tickets to Jackpot Prize Draws for Holders
  • Passive Income Rewards – Play to Earn Utility
  • 10,000 NFTs Minted in 2022 – Now on NFTLaunchpad.com
  • $1 Million NFT Jackpot in May 2022
  • Worldwide Decentralized Competitions

Lucky Block

Visit Site
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Read Entire Article
Tags: CryptocurrencyinsidebitcoinsInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin Price Could See Recovery If It Holds This Key Support

Bitcoin Price Could See Recovery If It Holds This Key Support

by Jon Hartney
September 27, 2023
0

Bitcoin price is consolidating above the $26,000 support BTC could start a recovery wave if it clears the $26,500 resistance...

AirBit Club ‘ponzi’ co-founder gets 12 years prison

AirBit Club ‘ponzi’ co-founder gets 12 years prison

by Jon Hartney
September 27, 2023
0

Convicted fraudster Pablo Renato Rodriguez will also need to serve three years of supervised release after he finishes

Mastermind Behind Massive Crypto Ponzi Scheme AirBit Club Receives 12-Year Prison Sentence

Mastermind Behind Massive Crypto Ponzi Scheme AirBit Club Receives 12-Year Prison Sentence

by Jon Hartney
September 27, 2023
0

In a landmark verdict, Pablo Renato Rodriguez, the co-founder of AirBit Club, has been sentenced to 12 years in prison...

Sam Bankman-Fried’s political donations can be surfaced in trial, rules judge

Sam Bankman-Fried’s political donations can be surfaced in trial, rules judge

by Jon Hartney
September 27, 2023
0

Despite campaign finance charges being dropped in July, the prosecution has been granted permission to present evidence

Bitcoin Price Up 30% Versus Ethereum, New 2023 Lows Incoming?

Bitcoin Price Up 30% Versus Ethereum, New 2023 Lows Incoming?

by Jon Hartney
September 27, 2023
0

Bitcoin price is up 30% versus Ethereum (ETH) in 2023, and bulls appear not to be slowing down, looking at...

Load More
  • Trending
  • Comments
  • Latest
NEXO risks 50% drop due to regulatory pressure and investor concerns

NEXO risks 50% drop due to regulatory pressure and investor concerns

September 30, 2022
51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

October 14, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022
Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

October 11, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
Bitcoin Price Could See Recovery If It Holds This Key Support

Bitcoin Price Could See Recovery If It Holds This Key Support

September 27, 2023
AirBit Club ‘ponzi’ co-founder gets 12 years prison

AirBit Club ‘ponzi’ co-founder gets 12 years prison

September 27, 2023
Mastermind Behind Massive Crypto Ponzi Scheme AirBit Club Receives 12-Year Prison Sentence

Mastermind Behind Massive Crypto Ponzi Scheme AirBit Club Receives 12-Year Prison Sentence

September 27, 2023
Sam Bankman-Fried’s political donations can be surfaced in trial, rules judge

Sam Bankman-Fried’s political donations can be surfaced in trial, rules judge

September 27, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin Price Could See Recovery If It Holds This Key Support September 27, 2023
  • AirBit Club ‘ponzi’ co-founder gets 12 years prison September 27, 2023
  • Mastermind Behind Massive Crypto Ponzi Scheme AirBit Club Receives 12-Year Prison Sentence September 27, 2023
  • Sam Bankman-Fried’s political donations can be surfaced in trial, rules judge September 27, 2023
  • Bitcoin Price Up 30% Versus Ethereum, New 2023 Lows Incoming? September 27, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$26,267.00-0.35%
  • ethereumEthereum(ETH)$1,595.920.23%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.03%
  • binancecoinBNB(BNB)$213.130.90%
  • rippleXRP(XRP)$0.50-0.59%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • staked-etherLido Staked Ether(STETH)$1,592.950.15%
  • cardanoCardano(ADA)$0.245741-0.27%
  • dogecoinDogecoin(DOGE)$0.060783-0.51%
  • solanaSolana(SOL)$19.01-2.38%
  • tronTRON(TRX)$0.0851020.44%
  • ToncoinToncoin(TON)$2.11-3.23%
  • Wrapped stETHWrapped stETH(WSTETH)$1,865.160.38%
  • polkadotPolkadot(DOT)$4.01-1.32%
  • matic-networkPolygon(MATIC)$0.51-2.59%
  • litecoinLitecoin(LTC)$63.98-1.31%
  • shiba-inuShiba Inu(SHIB)$0.000007-0.63%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,231.00-0.29%
  • bitcoin-cashBitcoin Cash(BCH)$214.541.25%
  • chainlinkChainlink(LINK)$7.37-2.15%
  • daiDai(DAI)$1.000.04%
  • true-usdTrueUSD(TUSD)$1.00-0.04%
  • leo-tokenLEO Token(LEO)$3.66-3.48%
  • uniswapUniswap(UNI)$4.31-0.03%
  • avalanche-2Avalanche(AVAX)$9.070.52%
  • stellarStellar(XLM)$0.111781-0.71%
  • moneroMonero(XMR)$144.920.31%
  • okbOKB(OKB)$42.95-0.60%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • binance-usdBUSD(BUSD)$1.00-0.12%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • ethereum-classicEthereum Classic(ETC)$15.13-0.56%
  • cosmosCosmos Hub(ATOM)$6.98-1.51%
  • hedera-hashgraphHedera(HBAR)$0.049040-2.48%
  • filecoinFilecoin(FIL)$3.20-0.49%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • internet-computerInternet Computer(ICP)$2.990.30%
  • crypto-com-chainCronos(CRO)$0.050250-0.48%
  • lido-daoLido DAO(LDO)$1.47-0.85%
  • makerMaker(MKR)$1,423.136.41%
  • quant-networkQuant(QNT)$87.00-1.28%
  • MantleMantle(MNT)$0.389336-0.78%
  • AptosAptos(APT)$5.28-5.56%
  • vechainVeChain(VET)$0.016519-0.81%
  • ArbitrumArbitrum(ARB)$0.820.73%
  • optimismOptimism(OP)$1.291.65%
  • nearNEAR Protocol(NEAR)$1.08-2.10%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • KaspaKaspa(KAS)$0.046427-0.45%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,728.940.16%
  • aaveAave(AAVE)$61.00-1.33%
  • BitDAOBitDAO(BIT)$0.592.96%
  • the-graphThe Graph(GRT)$0.087468-0.90%
  • algorandAlgorand(ALGO)$0.095901-2.69%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$5.21-0.59%
  • usddUSDD(USDD)$1.00-0.06%
  • immutable-xImmutableX(IMX)$0.58-3.23%
  • fraxFrax(FRAX)$1.00-0.11%
  • xdce-crowd-saleXDC Network(XDC)$0.047583-4.23%
  • havvenSynthetix Network(SNX)$2.011.19%
  • blockstackStacks(STX)$0.458975-1.92%
  • theta-tokenTheta Network(THETA)$0.640.17%
  • eosEOS(EOS)$0.57-0.83%
  • radixRadix(XRD)$0.0618794.08%
  • elrond-erd-2MultiversX(EGLD)$24.39-1.65%
  • Bitget TokenBitget Token(BGB)$0.448318-0.29%
  • the-sandboxThe Sandbox(SAND)$0.3034140.45%
  • tezosTezos(XTZ)$0.66-0.01%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • injective-protocolInjective(INJ)$7.221.20%
  • bitcoin-cash-svBitcoin SV(BSV)$30.980.34%
  • axie-infinityAxie Infinity(AXS)$4.52-3.14%
  • render-tokenRender(RNDR)$1.50-0.32%
  • decentralandDecentraland(MANA)$0.298094-0.30%
  • gatechain-tokenGate(GT)$3.87-0.02%
  • fantomFantom(FTM)$0.188050-1.51%
  • thorchainTHORChain(RUNE)$1.741.57%
  • marumaruNFTmarumaruNFT(MARU)$0.24991121.40%
  • neoNEO(NEO)$7.19-0.88%
  • kavaKava(KAVA)$0.62-0.09%
  • paxos-standardPax Dollar(USDP)$1.00-0.08%
  • pax-goldPAX Gold(PAXG)$1,899.07-0.44%
  • tether-goldTether Gold(XAUT)$1,902.03-0.57%
  • ecasheCash(XEC)$0.000024-0.60%
  • curve-dao-tokenCurve DAO(CRV)$0.520.27%
  • binaryxBinaryX(BNX)$165.90-5.97%
  • flowFlow(FLOW)$0.440985-1.54%
  • compound-ethercETH(CETH)$32.060.28%
  • Halo CoinHalo Coin(HALO)$0.057345-0.05%
  • convex-crvConvex CRV(CVXCRV)$1.47184.01%
  • frax-shareFrax Share(FXS)$5.820.92%
  • kucoin-sharesKuCoin(KCS)$4.42-1.15%
  • rocket-poolRocket Pool(RPL)$21.52-1.57%
  • Frax EtherFrax Ether(FRXETH)$1,590.230.15%
  • iotaIOTA(MIOTA)$0.148926-1.07%
  • apecoinApeCoin(APE)$1.12-1.57%
  • chilizChiliz(CHZ)$0.057568-1.12%
  • huobi-tokenHuobi(HT)$2.42-0.72%
  • First Digital USDFirst Digital USD(FDUSD)$1.000.02%