KuCoin CEO Denies $500M Insolvency Claim by Whistleblower

Following the recent crypto market crash that led to the collapse of several crypto-focused projects such as Terra Network and Three Arrows Capital (3AC), Crypto Twitter has been filled with circulating rumors of more crypto firms edging towards a collapse, thereby raising FUD – fear uncertainty, and doubt – among investors. KuCoin CEO Johnny Lyu has addressed a circulating rumor by Twitter user Otteroo, who claims that the crypto exchange has become insolvent, with a hole up to $500 million in its balance sheet.