KuCoin Confirms BTC, ETH, USDT Backed in 30th PoR

KuCoin reserves exceed customer assets in BTC, ETH, USDT, and USDC. Independent third-party confirms 1:1 on-chain asset backing. Monthly reports support ongoing transparency and user trust. 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. Consistent Reporting on Asset Backing The May snapshot confirms that the platform holds more digital assets than it owes to users. The data covers Bitcoin, Ethereum, Tether (USDT), and USD Coin (USDC). According to the report, KuCoin held 10,306.77 BTC while user holdings totaled 9,751.17 BTC, resulting in a 106% reserve ratio. Ethereum reserves were even stronger at 116%, with 168,779 ETH backing 145,807 ETH owed to users. Stablecoins showed similar safety margins. The exchange held 1.34 billion USDT in reserves for 1.18 billion in user assets. For USDC, reserves hit 93.42 million against 85.71 million in deposits, representing a 109% reserve ratio. Related: KuCoin Eyes Return to South Korea, Launches $2B Trust Initiative How KuCoin Ensures and Verifies Reserves KuCoin’s PoR process is independently verifiable through Merkle Tree cryptography. This system confirms that the exchange holds customer assets on-chain at or above a 1:1 ratio relative to its liabilities. KuCoin also offers tools that allow users to independently verify their balances and compare them against published on-chain wallet addresses. The Merkle Tree structure compiles and encrypts user asset data, generating a single hash that summarizes all balances. This design prevents tampering and enables transparent, user-level verification of fund ownership and data accuracy. Related: Binance, KuCoin, and Bithumb Lead CEX Token Listings in 2024: Klein Labs Report Building Trust Through Consistent Action KuCoin emphasized that its continuous investment in industry-leading verification systems reflects a long-term commitment to user protection and financial integrity. By publishing detailed PoR reports monthly, the exchange aims to build and maintain trust, especially in an industry still recovering from past transparency failures. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company. Source: https://coinedition.com/kucoin-confirms-btc-eth-usdt-backed-in-30th-por/