KuCoin CEO is making important moves in the crypto space. Check out the latest reports revealed below.
KuCoin CEO launches new fund
KuCoin CEO Johnny Lyu said that the digital asset exchange is launching a new fund to address fear, uncertainty, and doubt (FUD) along with misinformation in the crypto space.
Earlier this month, Lyu had to address claims that KuCoin is facing financial troubles due to its exposure to embattled crypto projects.
The executive denied the allegations. He said that the company did not have dealings with the likes of Three Arrows Capital (3AC), Terra (LUNA) and Babel Finance.
In order to prevent similar issues from arising in the future, Lyu now announces that KuCoin is allocating resources to combat FUD.
“FUD benefits no one except the FUDers. It misleads investors and harms the industry’s image and market confidence. To build a crypto space with less FUD, KuCoin is going to launch an Anti-FUD Fund.”
He said that the key focus areas of the fund involve an education campaign, industry leaders and influencers.
“Firstly, implement Anti-FUD education online and offline. We will leverage our global community in over 20 languages to deliver knowledge, including what is FUD and how to distinguish it, etc.”
He also said that:
“Secondly, motivate and acclaim industry leaders and influencers who are always responsible, delivering trusted information to their audiences, and helping them stay away from FUD.”
Current state of the crypto market
According to the latest reports, there is an important catalyst that boosts the crypto rally these days. The analytics firm Santiment reveals new data.
Santiment made sure to explain the fact that despite Bitcoin (BTC), Ethereum (ETH), and altcoins such as ApeCoin (APE), Fantom (FTM), Ethereum Classic (ETC), and THORChain (RUNE) recording double-digit growth percentage-wise, social media mentions are declining.
At the moment of writing this article, BTC is trading in the re and the king coin is priced at $23,971.