The recent FTX collapse, in addition to the past cryptocurrency crashes, LUNA Crypto, Three Arrows Capital (3AC) and Babel Finance, has had a domino effect on many cryptocurrency exchanges, which led to a plunge in cryptocurrency prices and the global market cap.
Coinut (Coins U Trust) would like to inform our users that our platform remains trusted, safe and secure from any of the recent tragedies that occurred to the cryptocurrency and the crypto exchanges. For one, we would like to emphasise the transparency of our company evolution, activities, partnerships, upgrades and policies to our customers and staff through our communication channels: blog posts and social media platforms (Twitter, LinkedIn and Facebook).
Our CEO, Xinxi Wang, and the Coinut family believe that integrity is of utmost importance and trust is the core value of our brand, hence the change of our brand name from “Coinut (Coin Ultimate Trading)” to “Coins U Trust”, at the start of this month, 1 November 2022.
Being one of the earliest cryptocurrency exchanges in Singapore, which has been and still aims to be the centre of blockchain and cryptocurrency in Asia, Coinut is continuously dedicated to being the most secure cryptocurrency exchange in the country. Coinut constantly monitors the platform’s system security to ensure safe custody of the customers’ digital assets. In apparent fulfilment of this principle, the Founder & CEO of Coinut released an official statement that the company does not, and would never, utilise the customers’ funds or assets to invest, trade, or lend to other parties. Coinut also encourages its users to make safe investment practices and avoid crypto phishing and scams.
As part of our due diligence, we make sure to only enlist reputable cryptocurrencies, particularly, Bitcoin, Litecoin, Ethereum, Tether US dollar stablecoin USDT and StraitsX Singaporean dollar stablecoin XSGD and Indonesian Rupiah XIDR. Memecoins and other highly risky altcoins for our customers are not introduced into the platform.
Coinut’s founder & CEO, board members and staff, are people with credibility, specifically in education and experience. The process of internal organisation is coded with integrity, ensuring no unauthorised transactions to occur in the platform, in observance of the financial regulatory bodies in Singapore and Canada where Coinut is based, particularly MAS (Monetary Authority of Singapore) and OSC (Ontario Securities Commission) Canada, as well as the regulations and laws governing cryptocurrency around the world.
Coinut continues to deliver a trusted, secure and user-friendly cryptocurrency exchanges in Singapore.
RISK DISCLOSURE: ⚠️
Digital payment token investments, such as cryptocurrencies, are not guaranteed by service providers or cryptocurrency exchanges and the government. It is crucial to exercise caution in investing, including the awareness that a part or all of the capital may be lost and may not be recovered especially in cases of high price volatility or down market, bankruptcy, seizures and other factors. Hence, the user’s risk tolerance, investment appetite or capacity for loss should be set firstly and they should observe safe and knowledgeable investment practices accordingly. For more information, please visit MAS' website.
IMPORTANT NOTE: 📢
Coinut.com is a financial entity regulated as a Money Services Business in Canada and an exempt entity under the Payment Services Act in Singapore. Please be reminded that cryptocurrency trading is highly risky and is not suitable for the general public. For more information please refer to Risk Warnings and Risk Statements.