KuCoin, the favored crypto alternate, launched its first-half overview for 2023, showcasing spectacular progress and innovation within the face of difficult market situations. The alternate famous that regardless of the volatility within the crypto market, it has maintained sturdy progress, increasing its consumer base and adopting regulatory necessities to enhance consumer expertise and belief.
One of many essential highlights of the overview is the enlargement of KuCoin’s consumer base, which grew by 26% year-on-year, reaching a formidable 29 million registered customers. by June 2023. In response to the official assertion, the Latin America area (LATAM) led the expansion. Different areas, together with the Center East and Africa, Europe and Asia, noticed notable progress in comparison with the primary half of 2022.
Along with the enlargement of the consumer base, KuCoin has seen a rise in buying and selling quantity within the spot and futures markets, exceeding $1 trillion. The report notes that the expansion was pushed by varied areas, demonstrating the worldwide attraction of the alternate.
Moreover, the KuCoin Buying and selling Bot has seen substantial progress, with customers creating 12 million bots and producing buying and selling quantity exceeding $5.7 billion USDT within the first half of 2023.
Moreover, the alternate mentioned it has carried out complete safety measures, together with industry-standard encryption algorithms and multi-factor authentication for all consumer accounts. KuCoin claims that the majority buyer funds are saved in chilly wallets, offering sturdy safety.
Curiously, KuCoin launched the biggest bug bounty program in collaboration with cybersecurity firm Hacken, providing $1 million in bug bounty rewards to additional strengthen safety measures. Johnny Lyu, CEO of KuCoin, mentioned:
“We prioritize distinctive buyer help, efficiently responding to over 300,000 consumer inquiries by harnessing the facility of an AI-powered chatbot between January and June 2023. Belief and transparency kind the muse values of KuCoin.”
Moreover, the overview report famous that the alternate has been publishing its Proof of Reserves (PoR) knowledge often since late 2022, assuring customers that their funds are totally collateralized. The newest snapshot of June 30, 2023 reveals excessive reserve charges for varied cryptocurrencies, reminiscent of Bitcoin (BTC), Ethereum (ETH), USDT, and USDC.
It’s price mentioning that KuCoin’s world enlargement efforts have been profitable, with greater than 300 new staff members becoming a member of the corporate within the first half of 2023. Moreover, world communities and community presence KuCoin’s social platforms have seen important progress, with a 20% enhance within the variety of customers. engagement and a Twitter account of two.5 million, spanning 24 world communities in numerous languages and geographies.
