The chief executive officer of the KuCoin crypto exchange announced the launch of the Anti-FUD Fund.
KuCoin is a popular crypto exchange and known to provide secure crypto services globally. In the last month, the KuCoin exchange faced huge negative comments because of FUDs. Recently KuCoin exchange published a blog post in response to the FUD spreaders. Once, KuCoin said that the exchange own full authority to initiate a legal case against the misinformation spreaders.
On 26 July, Johnny Lyu, chief executive officer of KuCoin Exchange, took to Twitter to inform that the KuCoin exchange launched the “Anti-FUD Fund”.
Through the Twitter thread, KuCoin CEO said that FUDs help only FUDers but spoil the growth & confidence of the crypto investors. So now, KuCoin is going to launch an anti-FUD fund to kick out FUDers.
KuCoin CEO noted that it will also help the crypto Investors to get information about the FUDs & possible harm.
“We will leverage our global community in over 20 languages to deliver knowledge, including what is FUD and how to distinguish it, etc.”
Further KuCoin CEO said that Fund will trace FUDs after that, it may initiate legal action against them.
Lyu is confident with this fund and aims to erase possible FUDs from the industry, to push the adoption & development work of the Crypto industry.
Earlier this, on 23 July, KuCoin published a blog post against a and responded against FUDer. Exchange said that the KuCoin exchange is working fine with all genuine back-end operations and FUDer is only spreading wrong & misleading information.
Indeed a FUDer claimed through a Twitter account that the exchange had exposure to the Terra’ Luna, so the collapse of the Terra Ecosystem resulted in huge loss for the KuCoin exchange also, which may further result in insolvency of the exchange.