KuCoin's 2023 H1 Review: Sustaining Robust Growth With 29 Million Users
KuCoin, the People's Exchange, proudly announces the first half of 2023 (H1 2023) accomplishments, highlighting exceptional growth and innovation in the face of challenging market conditions. Despite the crypto market fluctuation, KuCoin maintained strong growth and proactively adopted regulatory requirements to enhance the user experience and trust.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230713403667/en/
KuCoin's 2023 H1 Review: Empowering Crypto Enthusiasts - A Mid-Year Review of Growth, Expansion, User Engagement With 29 Million Users.(Graphic: Business Wire)
Key Achievements from KuCoin’s H1 2023 review:
- Impressive user base expansion and steady trading volume increase: KuCoin's user base expanded by 26% YoY, reaching 29 million registered users by June 2023, led by the LATAM region. Trading volume across spot and futures markets hit $1 trillion, driven by growth in various regions. The KuCoin Trading Bot saw substantial growth, with 12 million bots created and a trading volume exceeding 5.7 billion USDT in H1 2023.
- Safety and Security: At KuCoin, the safety and security of users' assets are of paramount importance. KuCoin has implemented comprehensive security measures to ensure the protection of sensitive data and user funds. This includes industry-standard encryption algorithms, multi-factor authentication for all user accounts, and the majority of client funds stored in cold wallets for enhanced security. Additionally, KuCoin has launched the largest bug bounty program in collaboration with cybersecurity company Hacken, offering $1 million in bug bounty awards, further reinforcing the platform's commitment to maintaining a secure trading environment. Meanwhile, KuCoin is implementing Mandatory KYC, to enhance security and foster a safer trading environment for all users.
- Trust and Transparency: KuCoin continues to prioritize trust and transparency by publishing its Proof of Reserves (PoR) data. As one of the first major global crypto exchanges to do so, KuCoin regularly updates its PoR information, assuring users that their funds are fully backed. The latest snapshot from June 30, 2023, reveals a BTC reserve ratio of 104%, ETH reserve ratio of 115%, USDT reserve ratio of 105%, and USDC reserve ratio of 114%. This data confirms KuCoin's commitment to maintaining a high collateralization ratio, ensuring the safety and integrity of user assets.
- Global expansion: KuCoin welcomed over 300 new team members globally, fostering deeper engagement with the global crypto community. The exchange's global communities and social media presence grew, with a 20% increase in user engagement and a Twitter following of 2.5 million.
"In the first half of 2023, KuCoin has showcased an exceptional dedication to innovation, trust, and customer satisfaction. We prioritize outstanding customer support, successfully addressing over 300,000 user inquiries by harnessing the power of an AI-driven chatbot between January to June 2023. Trust and transparency form the bedrock of KuCoin's values, as demonstrated by our stringent anti-fraud measures and the regular release of Proof of Reserves data, ensuring our users that their assets are securely safeguarded. Our commitment to ongoing progress is evident through the addition of 89 new assets, the remarkable expansion of the KuCoin Trading Bot, and the upcoming debut of KuCoin Learn, 6th year anniversary with product and brand upgradation, an indispensable resource for crypto enthusiasts. As we forge ahead, KuCoin remains devoted to empowering our users and fostering the growth of a flourishing crypto ecosystem for generations to come." - Johnny Lyu, CEO of KuCoin
For more details here’s our blog for our KuCoin H1 Review highlights of 2023, here.
About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 29 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the Best Crypto Exchanges in 2023. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230713403667/en/
Contact information
For media inquiries, please contact: media@kucoin.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Incyte to Present Multiple Studies from Dermatology Portfolio at 2023 European Academy of Dermatology and Venereology (EADV) Congress29.9.2023 20:43:00 EEST | Press release
Incyte (Nasdaq:INCY) today announced multiple abstracts featuring new data from across its dermatology portfolio have been accepted for presentation at the upcoming European Academy of Dermatology and Venereology (EADV) Congress 2023 held October 11-14 in Berlin. “We are pleased to add to the data supporting the use of ruxolitinib cream for patients living with vitiligo and atopic dermatitis (AD) through two late-breaking presentations – one on prolonged use of treatment in vitiligo patients with limited or no initial response, and the full results of our TRuE-AD3 trial in pediatric AD,” said Jim Lee, M.D., Ph.D., Group Vice President, Inflammation & Autoimmunity, Incyte. “Collectively, the data at this year's Congress, which also include new late-breaking data for povorcitinib in vitiligo, emphasize our ongoing efforts to advance treatment options for the Dermatology community." Key abstracts from Incyte-sponsored programs include: Late-breaking Oral Presentations Vitiligo Efficacy an
Q4 Inc. Recognized as one of Canada’s Top Growing Companies by The Globe and Mail29.9.2023 17:30:00 EEST | Press release
Q4 Inc. (TSX: QFOR) (“Q4” or “the Company”), the leading capital markets access platform, is pleased to announce their ranking on the 2023 Report on Business of Canada’s Top Growing Companies. Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Q4 earned its spot with three-year growth of 150%. “We are honored to be recognized as one of Canada’s Top Growing Companies for the fourth consecutive year by The Globe and Mail,” remarked Darrell Heaps, Founder and CEO of Q4. “We are proud of the growth we have achieved as a company and this recognition is a true reflection of our dedication to helping our clients win in the capital markets through innovative technology on the Q4 Platform.” Canada’s Top Growing Companies is an editorial ranking that was launched in 2019. It aims to bring the accomplishments of innovative businesses in Canada to the forefront. In order to qualify for this voluntary program; companies had to complete an in-depth application proc
GEDi Cube and Renovaro Biosciences Sign Definitive Agreement to Combine29.9.2023 16:15:00 EEST | Press release
GEDi Cube Intl Ltd. (GEDi Cube), an AI medical technology company, and Renovaro Biosciences Inc. (NASDAQ:RENB) (Renovaro), an advanced, preclinical biotechnology firm in cell, gene and immunotherapy, have signed a definitive agreement to combine, in which GEDi Cube will become a wholly-owned subsidiary of Renovaro in a stock-for-stock acquisition (the “Transaction”). If completed, the Transaction will result in a combined company that will offer advanced early diagnosis and early identification of recurring cancer as well as potential therapies for several critical diseases such as pancreatic cancer and other solid tumors with poor life expectancy. The combined company will have a unique advantage: Renovaro Biosciences’ pre-clinical and clinical trial data could be utilized to accelerate GEDi Cube’s AI capabilities that, in turn, could potentially help to accelerate Renovaro’s development of potential new therapies. AI will be used to advance the fields of diagnosis and treatment with
Offshore Windfarm Hollandse Kust Zuid Inaugurated29.9.2023 14:53:00 EEST | Press release
Today, Dutch King Willem-Alexander jointly with the board members of Vattenfall, BASF, and Allianz officially inaugurated the offshore wind farm Hollandse Kust Zuid 1-4. The wind farm is in the North Sea, 18-36 kilometers off the Dutch coast between the towns of Scheveningen and Zandvoort. The 139 turbines have a total capacity of 1.5 GW, making it one of the largest offshore wind farms in the world. The annual electricity production is expected to equal the consumption of 1.5 million households. Hollandse Kust Zuid is owned by Vattenfall, BASF, and Allianz. The wind farm is expected to be fully operational in 2024 and will be serviced out of the port of IJmuiden. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230929518869/en/ Inauguration Hollandse Kust Zuid wind farm. From left to right: Helene Biström (Senior Vice President, Head of Business Area Wind Vattenfall), Martijn Hagens (CEO Vattenfall Netherlands), His Majesty K
The Estée Lauder Companies Launches 2023 Breast Cancer Campaign: Beautifully United to Help End Breast Cancer29.9.2023 14:00:00 EEST | Press release
For more than 30 years, The Estée Lauder Companies’ Breast Cancer Campaign (The Campaign) has been dedicated to advancing the possibility of a breast cancer-free world for all. This October, The Estée Lauder Companies (ELC) honors Breast Cancer Awareness Month by launching The Campaign in support of the global breast cancer community. As ELC’s largest corporate social impact program, The Campaign continues to inspire purpose-driven action and is a cornerstone of the company’s social investments in women’s advancement, health and education. Through The Campaign, ELC has also been a longstanding supporter of women in science, research and medicine – funding numerous grants and programs around the world and accelerating opportunities for women in STEM. The Campaign was founded by Evelyn H. Lauder in 1992 with the launch of the iconic Pink Ribbon. At a time when breast cancer wasn’t spoken about openly, Evelyn and ELC saw an opportunity to bring awareness to the disease and address stigmas
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom