This week, the Internet has been in a frenzy after reports surfaced that Soundcloud allegedly only had enough funding until the start of the fourth quarter of 2017. After Chance The Rapper vowed to work on the issue, and claimed to have had a phone conversation with the CEO earlier today (July 14), the streaming service is releasing a statement confirming that the company isn't shutting down any time soon.

Soundcloud issued a statement on their website addressing the recent reports, calling it "noise." They confirmed that the service was not going away in "the foreseeable future," and assured users that their music is safe.

"There’s an insane amount of noise about SoundCloud in the world right now. And it’s just that, noise. The music you love on SoundCloud isn’t going away, the music you shared or uploaded isn’t going away, because SoundCloud is not going away," the company wrote. "Not in 50 days, not in 80 days or anytime in the foreseeable future. Your music is safe."

Soundcloud also confirmed the reports that the company let go some of their staff, as it was previously reported that the company laid off 40% of their employees.

"Along with each of you, we’ve built this incredible creative community of artists, podcasters, DJs, producers and more who are the driving force in pushing culture forward in the world," the statement continued. "That’s not going to change. Last week we had to make some tough decisions to let go of some of our staff, but we did this to ensure SoundCloud remains a strong, independent company."

The streaming service ended their statement by firmly writing, "Soundcloud is here to stay."

We're sure millions of users will be ecstatic to know that Soundcloud isn't going anywhere, and that they can continue to use the service.

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