KuCoin’s CEO said the crypto exchange prepared for the bear market

KuCoin’s CEO Johnny Lyu revealed that the crypto exchange had prepared for the market volatility thanks to its experience in the space.

Johnny Lyu, the CEO of crypto exchange KuCoin, told NASDAQ in a recent interview that the company had prepared for the cryptocurrency winter.

The crypto space has been in a bearish trend for nearly a year now, with the prices of most coins down by more than 60% from their all-time highs.

The crypto winter has seen some companies take drastic measures, such as filing for bankruptcy and cutting their workforce. However, KuCoin didn’t take any of these measures. 

When asked about their performance in the bear market, Lyu said;

“The significance of the crypto winter is greatly exaggerated. We have been in the cryptocurrency industry for several years, we are ready for market volatility, and we know how to deal with it. Since the establishment of KuCoin, we have always been ready to make the change and embrace more changes. Because of daring to change, we built a platform for all classes of investors. Because of daring to change, we serve our users as people’s exchange.”

Lyu has been in charge of KuCoin for the past few years, and he stated that he is enjoying his time leading the cryptocurrency exchange. He told NASDAQ that;

“It’s truly a magical feeling! These last five years are living testimony of our reliability and safety. The team and I are overwhelmed with a genuine sense of pride. Happy Anniversary to all users of KuCoin and our employees! We are in the top five, over 700 cryptocurrencies are listed on the exchange, and we have 20 million users, one million of whom have been with us since the first year of KuCoin operation.”

KuCoin was launched in 2017 and remains one of the leading cryptocurrency exchanges in the world.

Regarding KuCoin’s future outlook, Lyu said the company is focusing on protecting the interests of its users around the world who want to buy and sell cryptocurrencies, invest and trade.