Crypto.Com Exchange CEO Kris Marszalek remains confident about the company’s future despite the ongoing wave of turmoil in the market that has put enormous pressure on many well-known crypto platforms.

With the recent increase of crypto lenders suspending their withdrawal services affected by the widespread liquidity crisis. Some typical names can be mentioned such as Celsius, Babel Finance, Voyager Digital, and CoinFLEX exchange. Speculation about the next “victim” is becoming a new trend that is hotly discussed by the community, especially in today’s popular exchanges.

The first is the KuCoin exchange over the weekend, there have been many rumors circulating that KuCoin is about to stop withdrawing for users. However, CEO Johnny Lyu immediately denied this allegation.

And most recently, the CEO of Crypto.com exchange Kris Marszalek also had to directly speak out on Twitter to strengthen user trust. He clarified that the exchange will not implement withdrawal restrictions nor launch additional promotions on user deposits.

In response to allegations that the Singapore-based exchange changed its withdrawal policy and introduced a “Special Deposit Promotion with High Yield,” Crypto.com’s CEO labeled both these two claims are FUDs made as a “scam” to confuse public opinion.

Besides, Marszalek also argued that his company is still in a relatively good position, claiming that Crypto.com could be one of the top three cryptocurrency exchanges in the world this year even though the company has just cut up to 260 employees to help the floor become more “balanced” in financial spending, ensuring long-term sustainable growth.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Babel Finance

Celsius

CoinFLEX

Crypto.com

FUD

Johnny Lyu

Kris Marszalek

Kucoin

Voyager Digital

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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News

Crypto.com CEO Denies Rumors Of Restricting Users From Withdrawals

Crypto.Com Exchange CEO Kris Marszalek remains confident about the company’s future despite the ongoing wave of turmoil in the market that has put enormous pressure on many well-known crypto platforms.

With the recent increase of crypto lenders suspending their withdrawal services affected by the widespread liquidity crisis. Some typical names can be mentioned such as Celsius, Babel Finance, Voyager Digital, and CoinFLEX exchange. Speculation about the next “victim” is becoming a new trend that is hotly discussed by the community, especially in today’s popular exchanges.

The first is the KuCoin exchange over the weekend, there have been many rumors circulating that KuCoin is about to stop withdrawing for users. However, CEO Johnny Lyu immediately denied this allegation.

And most recently, the CEO of Crypto.com exchange Kris Marszalek also had to directly speak out on Twitter to strengthen user trust. He clarified that the exchange will not implement withdrawal restrictions nor launch additional promotions on user deposits.

So once you have scale what do you do?

Optimise unit economics.

We started the process in Q1, so we’re in a good place now. These were some tough and unpopular calls. They were also the right calls to make.

More and more people begin to recognise it.

— Kris | Crypto.com (@kris) July 5, 2022

In response to allegations that the Singapore-based exchange changed its withdrawal policy and introduced a “Special Deposit Promotion with High Yield,” Crypto.com’s CEO labeled both these two claims are FUDs made as a “scam” to confuse public opinion.

People are free to FUD all they want, but this doesn’t change the facts: https://t.co/pFc4PzqqHR will be a top5, maybe even top3 crypto platform globally by revenue this year. Only two other players have higher user count than us.

— Kris | Crypto.com (@kris) July 5, 2022

Besides, Marszalek also argued that his company is still in a relatively good position, claiming that Crypto.com could be one of the top three cryptocurrency exchanges in the world this year even though the company has just cut up to 260 employees to help the floor become more “balanced” in financial spending, ensuring long-term sustainable growth.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu New

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