KuCoin’s anti-FUD fund appeared shortly immediately after the exchange was continually faced with a series of allegations linked to liquidity troubles.
KuCoin exchange CEO Johnny Lyu says they are launching an “Anti-FUD Fund” to track and possibly consider legal action towards persons who spread false rumors and educate funds customers on how to determine misinformation.
(one/five) FUD does not advantage any person except FUDers. It deceives traders and damages the picture of the sector and the self-confidence of the industry.
To develop a crypto area with much less FUD, #KuCoin will launch an Anti-FUD Fund.
Currently, the fund will mostly concentrate on …
wire pic.twitter.com/dWA93nEmHz
– Johnny_KuCoin (@lyu_johnny) July 26, 2022
The launch of the fund came in a brief time as Mr. Johnny Lyu had a rather “exciting” trade with the account. Otteroooo on July 23. So, Otteroooo previously alleged KuCoin had exposed LUNA, leading to the exchange to default. However, KuCoin’s CEO denied this details and Otteroooo’s account has now been eliminated from Twitter.
For an overview of this situation, go through the following post:
In early July 2022, KuCoin was also rumored to be stopping customers from withdrawing due to the liquidity crisis which has at present proven no indicators of stopping.
CEO Johnny Lyu stated the “Anti-FUD Fund” consists of 3 aspects, the 1st remaining schooling, which will deliver information, which includes what FUD is and how to differentiate them by means of on the net and offline suggests. . The Foundation also encourages and celebrates market leaders and influencers, who consider duty, deliver reputable details to their customers, and aid the monitoring neighborhood stay clear of FUD.
(three/five) Second, inspire and cheer on market leaders and influencers who are constantly accountable by supplying reputable details to their audience and assisting them remain away from FUD.
– Johnny_KuCoin (@lyu_johnny) July 26, 2022
Ultimately, the fund will seek out to successfully track and possibly consider legal action towards people who knowingly distribute FUD. Because KuCoin CEO says the spread of FUD will result in panic, significantly damaging tasks, customers and the cryptocurrency market as a complete.
(five/five) I am positive that these initiatives can hardly erase all the FUD in our sector, but we have to consider the 1st stage, and each stage counts.
Not FUD, #BUIDL
– Johnny_KuCoin (@lyu_johnny) July 26, 2022
Speaking with Indian Express earlier this week, Johnny Lyu stated Web3 technologies can fix FUD traceability and liability troubles in a radical way.
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