input: 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.
Global cryptocurrency exchange KuCoin has released its 30th consecutive monthly Proof of Reserves (PoR) report, reaffirming its commitment to transparency and user protection. The May snapshot confirms that the platform fully backs user assets and even holds them with extra collateral.
KuCoin’s PoR process is independently verifiable through Merkle Tree cryptography. This system ensures that the exchange holds customer assets on-chain at a 1:1 ratio or above relative to its liabilities. KuCoin also provides tools for users to independently verify their balances and compare them against the published on-chain wallet addresses.
The Merkle Tree structure combines and encrypts user asset data to generate a single hash that summarizes all balances. This design prevents tampering and enables transparent, user-level verification of fund ownership and data accuracy.
According to the May PoR report, KuCoin’s Bitcoin reserves exceed user holdings by 106%. The exchange held 10,306.77 BTC while user holdings totaled 9,751.17 BTC.
The exchange’s Ethereum reserves also showed a strong 116% backing ratio. The platform had 168,779 ETH in its reserves compared to 145,807 ETH owed to users.
Stablecoin reserves at KuCoin also displayed safety margins. The exchange held 1.34 billion Tether (USDT) in its reserves compared to 1.18 billion in user assets. For USD Coin (USDC), reserves hit 93.42 million against 85.71 million in deposits, presenting a 109% reserve ratio.
KuCoin’s consistent reporting on asset backing throughout 30 months is a testament to its commitment, especially in an industry still recovering from past transparency failures. By publishing detailed PoR reports monthly, KuCoin aims to build and maintain trust with its users.
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