KuCoin Confirms BTC, ETH, USDT Are Fully Backed in 30th PoR Report
- KuCoin reserves exceed customer assets in BTC, ETH, USDT, and USDC.
- Independent third-party confirms 1:1 on-chain asset backing.
- Monthly reports support ongoing transparency and user trust.
Global crypto exchange KuCoin released its 30th straight monthly Proof of Reserves (PoR) report, reaffirming its commitment to transparency. The report confirms user assets are fully backed and even held with extra collateral.
Consistent Reporting on Asset Backing
The May snapshot confirms that the platform holds more digital assets than it owes to users. The data covers Bitcoin, Ethereum, Tether (USDT), and USD Coin (USDC).
According to the report, KuCoin held 10,306.77 BTC while user holdings totaled 9,751.17 BTC, resulting in a 106% reserve ratio. Ethereum reserves were even stronger at 116%, with 168,779 ETH backing 145,807 ETH owed to users.
Stablecoins showed similar safety margins. The exchange held 1.34 billion USDT in reserves for 1.18 billion in user assets. For USDC, reserves hit 93.42 million against 85.71 million in deposits, representing a 109% reserve ratio.
Related: KuCoin Eyes Return to South Korea, Launches $2B Trust Initiative
How K…
The post KuCoin Confirms BTC, ETH, USDT Are Fully Backed in 30th PoR Report appeared first on Coin Edition.
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KuCoin Confirms BTC, ETH, USDT Are Fully Backed in 30th PoR Report
- KuCoin reserves exceed customer assets in BTC, ETH, USDT, and USDC.
- Independent third-party confirms 1:1 on-chain asset backing.
- Monthly reports support ongoing transparency and user trust.
Global crypto exchange KuCoin released its 30th straight monthly Proof of Reserves (PoR) report, reaffirming its commitment to transparency. The report confirms user assets are fully backed and even held with extra collateral.
Consistent Reporting on Asset Backing
The May snapshot confirms that the platform holds more digital assets than it owes to users. The data covers Bitcoin, Ethereum, Tether (USDT), and USD Coin (USDC).
According to the report, KuCoin held 10,306.77 BTC while user holdings totaled 9,751.17 BTC, resulting in a 106% reserve ratio. Ethereum reserves were even stronger at 116%, with 168,779 ETH backing 145,807 ETH owed to users.
Stablecoins showed similar safety margins. The exchange held 1.34 billion USDT in reserves for 1.18 billion in user assets. For USDC, reserves hit 93.42 million against 85.71 million in deposits, representing a 109% reserve ratio.
Related: KuCoin Eyes Return to South Korea, Launches $2B Trust Initiative
How K…
The post KuCoin Confirms BTC, ETH, USDT Are Fully Backed in 30th PoR Report appeared first on Coin Edition.
Read More