EXCLUSIVE: Kucoin in Talks to Buyout Ailing Crypto Companies, Says CEO
Cryptocurrency exchange Kucoin is in talks to buy the assets of ailing companies with strong core technologies, which can contribute to the growth of the industry but are hurt in the market downturn, says the company’s CEO. Johnny Liu said Monday.
In an exclusive interview with Benzinga, Lyu claimed that in the near future there will be a “not so dramatic” decoupling of the crypto market from the traditional financial markets and that the cryptocurrency industry cannot grow while continuing to follow the rules. set by centralized financial markets.
In active discussions with companies
“We are actively looking to help and buy ailing businesses, and we choose our future partners. The most important thing we look for is core technologies, so we will choose to work with companies that possess technologies, and then we will consider those projects that at a accidents are damaged by previous events, Lyu said.
The CEO of the Seychelles-based exchange further said that he will not consider working with any company that does not come with technological expertise and capabilities.
“We are interested in certain companies, and they are also interested in working with us. We will sit down together and find an agreement, he said.
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KuCoin over the profit phase
He further said that the company was past the profit making stage now and that the goal is to strive to make a greater contribution to the industry and work with partners who truly believe in the industry and can contribute to the growth of the industry with KuCoin in the future.
Cryptos are facing a crisis worse than 2018-19
Lyu said that compared to the crypto crisis of 2018-19, the industry faced a worse situation this year, but KuCoin is able to go through this period without suffering huge losses because the team is more prepared in terms of challenges, capital , human resources and their ability to judge the market correctly.
“I believe Kucoin is well prepared to take on whatever challenges it may bring. As a company that has tackled several major challenges all these years, the greatest treasure for our team is that we have a workforce that is growing strongly, and “We also adapt to market changes better as we grow. We also actively adapt to any changes the market may have in the future,” he said.
“We believe that one of our best results is our globalization and global expansion. We are also actively optimizing and adjusting our active businesses so that we can make it part of our daily maintenance.”
The crypto industry is getting away from traditional markets
Asked to comment on his views on the decoupling of cryptos from the traditional markets, Lyu said that while the decoupling may not be dramatic, the crypto industry is moving away from factors such as the US stock markets.
“We are not going to be able to grow further if we continue to follow the rules set by centralized financial markets, and we will also hit the ceiling very soon if we follow these traditional rules and financial regulations, especially when it comes to growing our crypto volume,” he said.
