KuCoin CEO Michael Gan Resigns Following DOJ Settlement

• Michael Gan has stepped down as the CEO of KuCoin.
• Gan leaves KuCoin as part of settlement conditions with the DOJ.
• The DOJ agreed to dismiss all charges against Gan and Eric Tang.

KuCoin founder Michael Gan has stepped down as the crypto exchange’s CEO following a settlement with the US Department of Justice (DOJ). Gan stepped down after the DOJ agreed to dismiss all the charges against him and his co-founder, Eric Tang, in the protracted case concerning regulation, money laundering, and other criminal matters.

Gan published a farewell message on KuCoin’s blog highlighting his achievements as the company’s leader, including growing the exchange from scratch to a user base of 38 million. According to the outgoing CEO, KuCoin has grown into one of the world’s leading exchanges, playing a significant role in advancing the possibilities of blockchain technology.

Details of the DOJ Settlement

In the meantime, Gan considers the terms of the resolution between the DOJ and himself favorable, noting that the government agency has agreed to drop all the charges against him and Tang. He appreciated the DOJ for adopting a “constructive approach” to res…

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