BitWell Partner: “Recent incidents have not dragged BitWell into a liquidity crisis. Instead, BitWell still operate stably and will continue to recruit talents”
BitWell partner Keversion Cheung said in an interview that recent accidents have not dragged BitWell into a liquidity crisis. Instead, we are actively expanding the recruitment of Web3 talents. The current focus is smooth operation of the exchanges and recruitment of global talents.
Keversion Cheung believes that digital assets, as an emerging financial tool, play a huge role in the future economy. The role of financial tools lies in how to improve existing deficiencies rather than using some of its characteristics for short-term profit. Despite the recent collapse of some institutions and exchanges due to aggressive tactics, we still have a lot of confidence in the crypto space.
Recently, the crypto market cap has fallen below 1 trillion US dollars, exchanges such as AEX and HOO have restricted or stopped withdrawals, and Terra has dragged some institutions such as Three Arrow Capital into the mire and into a cyclical liquidation spiral. In this regard, Keversion Cheung said: “Our team has been in the crypto space for many years and has a clear understanding of the gameplay and mechanism. So before the Terra collapse, we had warned users to pay attention to the risks and immediately offline the transactions(LUNA/USDT) which has protected users from unreasonable investment. This is what we have learned over the years and we believe that protecting user assets is protecting ourselves.”
Regarding some exchanges that prohibit users from withdrawals, Keversion Cheung said: “Users assets will be stored in cold wallets and BitWell will never misappropriate user assets for staking and arbitrage at any time. We have far more than 100% of the reserves and withdrawal of the user assets will never be delayed at any time.”
As the world’s leading growth asset platform, BitWell has always been laying the great foundation on security and stability. We will still firmly execute its strategy and move forward in the near future.