● KuCoin CEO, states India is the “key market” for the company and is “full of talent”.
● He also dismisses all the claims surrounding the insolvency, and bankruptcy.
● He also has stated that the current profits are higher and are recruiting more employees all over the world.
One among the top ten Crypto Exchanges KuCoin with over 18 million users worldwide, has realized the potential growth in the Indian market and aims to expand itself in the Indian market. KuCoin CEO Johnny Lyu has made it clear by stating India is the “key market” for the country and is “full of talent”. The dubiousness in the Indian cryptocurrency laws and the current crisis in cryptocurrency in India has no effect on the growth of the market according to Johhny Lyu. The company has already started hiring the locals and has a well set plan that was in place two years ago on the establishment of the market in India. The company has also built local communities in the country. He has mentioned that, “It doesn’t matter what the present situation is, as a buying and selling platform which is about to be 5 years previous, we’re trying on the future. I consider that via the longer term funding and infrastructure development of KuCoin within the Indian market the expansion of the Indian market is price trying ahead to,” .
In the semi-annual report, KuCoin has claimed that it has reached the $2 trillion mark and has dismissed all the rumors around insolvency, bankruptcy and has mentioned that it has “no exposure to LUNA & wLUNA”. There were also claims that the company is laying off the employees, on the contrary the company has stated that it has been hiring more people ever since. Recently, there were similar claims made against Coinbase and Gemini. The company has also announced a giveaway of $50,000 to celebrate the official announcement of its wallet.