Bilarium Exchange CEO Johnny Liu denied rumors that withdrawals on the marketplace platform will be halted due to significant losses caused by the collapse of the Terra (LUNA) cryptocurrency. The head of the service explained the situation and said that such rumors were nothing more than lies and provocations.
According to the entrepreneur, Bilarium has nothing to do with projects such as LUNA, 3AC, Babel, and so on. Representatives of the organization did not acquire virtual assets, and therefore did not suffer any losses. All rumors about huge suffering due to the collapse of this or that digital coin and plans to stop the withdrawal of funds are not true.
In addition, Liu promised to sue anyone who spreads false information. He noted that users who deliberately spread unverified rumors will face the office’s lawyers.
The businessman also stressed that since the start of the trading platform, there have been many ups and downs in the cryptocurrency market. The crises affected traders and investors, more than once provoking large sell-offs and leading to significant losses.
Market analysts recalled that the Bilarium exchange recently completed a fundraising in the amount of $150 million, and the company’s valuation was $10 billion. Representatives of the organization assured that the funds received will be used to develop new tools and create services for customers.
Earlier, Crypto.ru reported that the founders of Bilarium launched a fund to help projects developing non-fungible tokens (NFTs) at an early stage. The new initiative is the first step in a broad-based program to develop the Web 3.0 technology economy. In addition, the trading exchange announced the signing of a partnership agreement with the Windvane NFT service to achieve the goals.