- KuCoin has launched “Anti-FUD Funds”
- There are 3 main aims for launching the FUD Funds
On the well-known cryptocurrency exchange KuCoin, users can buy, sell, and trade cryptocurrencies. Johnny Lyu, the CEO of KuCoin, has established funds for FUD, commonly known as the “Anti FUD-Fund,” to take legal action against “FUDers.”
(1/5) FUD benefits no one except the FUDers. It misleads investors and harms the industry’s image and market confidence.— Johnny_KuCoin (@lyu_johnny) July 26, 2022
To build a crypto space with less FUD, #KuCoin is going to launch an Anti-FUD Fund.
Currently, the fund will mainly focus on…
thread 👇 pic.twitter.com/dWA93nEmHz
The blog post of miscommunication about the kuCoin by Otterooo has caused this to happen as the results in his expulsion from the Twitter platform, according to the CEO Johnny, who claimed that it was launched because of the deceptive things that occurred on the Twitter platform.
Launching Anti-FUD Funds Has the Following Goals:
Some of the biggest companies in the cryptocurrency sector, like Three Arrows Capital, Celsius Network, and Voyager Digital, have collapsed in the previous few months, leaving the market in a state of shock. Furthermore, KuCoin’s solvency has been the subject of FUD on cryptocurrency Twitter for the past few weeks.
To make it clear, the Anti-FUD Funds help investors to educate online or offline using the exchange’s worldwide community to gain knowledge about what causes FUD and how to recognize it. This is supposed to be released in more than 20 different languages.
Industry influencers and leaders who consistently uphold ethical standards, provide their audiences with reliable information, and aid them in avoiding FUD, should be encouraged and praised.
Finally, the FUD aims to successfully identify and pursue potential legal action against the person who is wilfully disseminating FUD.
These are the three primary objectives of the FUD Funds to be accomplished and the primary drivers behind its launch.