Johnny Lyu on cryptocurrency

About Johnny Lyu

In November 2022, KuCoin CEO Johnny Lyu discussed the collapse of FTX, calling it "a very big phenomenon" and "regrettable for the entire industry," noting that many users suffered losses. He stated that exchanges take "tremendous risk" as custodians of customer assets and that KuCoin allocates profits to safety and infrastructure. Lyu confirmed that KuCoin was "fully liquid" and was publishing its asset status while collaborating with third-party auditors. He expressed that the industry, including institutions, users, and exchanges, was willing to help the crisis pass and return to normality. Lyu also addressed regulation, saying KuCoin "definitely embrace[s]" regulations in countries with active and supportive frameworks, and that the exchange is proactive in complying with local laws. He suggested that over time, standards for audits and solutions would emerge. In an October 2022 interview at Token2049 Singapore, Lyu discussed KuCoin's fifth anniversary and its focus on building synergies with projects, market makers, and venture capitalists, emphasizing that security is fundamental and that projects without strong security "will collapse in one night."

Profile compiled from Johnny Lyu's verified public interviews and appearances. See all quotes & transcripts →