On November 8, CZ announced: “ To protect users, we have signed a non-binding letter of intent, intending to fully acquire FTX and help cover the liquidity crisis “. But, the next day, Binance decided to pull out of the deal. The exchange then claimed: We have decided not to pursue the potential acquisition of FTX“. Several players in the crypto sector reacted to this announcement. Among them are Gracy Chen, CEO of Bitget, and Johnny Lyu, CEO of KuCoin. Here are the statements collected by Tremplin.io from the two leaders of crypto exchanges.
Bitget CEO calls for joining forces in crypto
This November 9 on Twitter, commenting on the FTX-Binance affair, Gracy Chen invited players in the crypto sector to join forces “to create a better future instead of malicious competition“. The CEO of Bitget believes that the sustainable development of the new industry is fundamentally based on trust and transparency.
In this context, she made two important announcements. First, she said:We have already launched a $200 million protection fund to build confidence in this difficult time“. Second, she announced that Bitget will soon share her proof of reservations.
Also, interviewed byTremplin.io, Gracy Chen explained that the FTX-Binance case has caused major concern. This concerns the way in whichuser assets are held by exchanges and other financial institutions“.
Additionally, she told us that Bitget now collaborates with football star Lionel Messi. This partnership aims torebuild market confidence and boost investor confidence“.
Kucoin also commits to publishing its proof of reserves
This November 9, the CEO of KuCoin expressed her “sympathy to all who have been hurt by the current FTX situation“. He maintained that his exchange remains totally focused on protecting user funds.
Afterward, Johnny Lyu said, “We will publish proof of reservations […] in about a month“. He clarified that his exchange works closely with major auditing institutions to provide truthful and accurate evidence.
Many players in the crypto sector have expressed their sympathy for the victims of the price collapse of thetokenFTT. For Bitget and KuCoin, there is an urgent need to build trust and transparency in the crypto industry.
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