KuCoin CEO Launches New Fund to Combat Crypto FUD and Misinformation

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Last Updated on July 29, 2022 by Bitfinsider

According to KuCoin CEO Johnny Lyu, the digital asset exchange is launching a new fund to address fear, uncertainty, and doubt (FUD) as well as misinformation in the cryptocurrency space.

Earlier this month, Lyu was forced to respond to claims that KuCoin is in financial trouble due to its exposure to troubled cryptocurrency projects.

The executive denied the allegations, claiming that the firm had no dealings with companies such as Three Arrows Capital (3AC), Terra (LUNA), and Babel Finance.

Lyu now announces that KuCoin is allocating resources to combat FUD in order to avoid similar issues in the future.

“No one benefits from FUD except the FUDers.” It deceives investors and undermines the industry’s image and market confidence. KuCoin will launch an Anti-FUD Fund in order to create a crypto space with less FUD.”

According to him, the fund’s primary focus areas include an education campaign, industry leaders, and influencers.

“First and foremost, anti-FUD education should be implemented both online and offline.” We will use our global community in over 20 languages to deliver knowledge, such as what FUD is and how to identify it.

Second, recognise and reward industry leaders and influencers who are always accountable, delivering trusted information to their audiences, and assisting them in avoiding FUD.”

According to Lyu, the project will also target those who spread fear and misinformation.

“Third, effectively track down FUDers who intentionally spread FUD and, if necessary, take legal action against them.” FUD and panic spread harms projects, users, and the industry. Those actions must be punished.”

He claims that despite the difficulties of combating FUD in the crypto space, KuCoin is taking a proactive stance.

“I am confident that these initiatives will not be able to eliminate all of the misinformation in our industry, but we must take the first step, and every step counts.”


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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