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KuCoin consumer depend and transaction quantity on spot and futures markets exceeded 27 million and $3.6 trillion respectively, based on KuCoin’s 2022 Annual Overview report.
All through 2022, the trade welcomed over 13 million new customers, which signifies a 102% year-over-year development, based on the report. Of those new customers, 7 million, akin to 53.8%, are positioned within the Asia-Pacific area.
Rising the crew and the portfolio
As many crypto firms selected to downsize to outlive the cruel crypto winter, 2022 turned the 12 months of layoffs. Regardless of the market sentiment, KuCoin grew its crew by 20% in 2022 and plans to develop by one other 20% in 2023, based on 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.
Considerations over liquidity
After 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 trade’s reserves.
Lyu acknowledged that the trade had been clear with its customers from day one and stated that the trade owned 20,504 Bitcoin (BTC), 180,299 Ethereum (ETH), over 1 million Tether (USDT) and lots 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 trade was additionally partnering with third-party auditors to advertise transparency.
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