KuCoin consumer rely and transaction quantity on spot and futures markets exceeded 27 million and $3.6 trillion respectively, in keeping with KuCoin’s 2022 Annual Overview report.All through 2022, the change welcomed over 13 million new customers, which signifies a 102% year-over-year development, in keeping with the report. Of those new customers, 7 million, akin to 53.8%, are positioned within the Asia-Pacific area.Rising the staff and the portfolioAs many crypto firms selected to downsize to outlive the tough crypto winter, 2022 grew to become the yr of layoffs. Regardless of the market sentiment, KuCoin grew its staff by 20% in 2022 and plans to develop by one other 20% in 2023, in keeping with the report.KuCoin neighborhood additionally skilled a parallel growth in 2022 by rising to 1.3 million members dispersed throughout 23 language zones from 1 million members and 21 languages in 2021.Issues over liquidityAfter the FTX collapse, KuCoin confronted neighborhood considerations with regard to its publicity to FTX. In November 2022 KuCoin CEO Johnny Lyu responded to those rumors by disclosing the change’s reserves.Lyu said that the change had been clear with its customers from day one and stated that the change owned 20,504 Bitcoin (BTC), 180,299 Ethereum (ETH), over 1 million Tether (USDT) and plenty of different cash as of Nov. 11, 2022.A couple of days later, Lyu gave an unique interview with CryptoSlate, the place he reaffirmed KuCoin’s liquidity and stated the change was additionally partnering with third-party auditors to advertise transparency.Posted In: Bear Market, Exchanges

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