Kucoin CEO, Johnny Lyu, has defined in plenty of tweets in the present day that Kucoin has been clear with its customers since day one in every of constructing the hybrid centralized/decentralized cryptocurrency change.
From day 1 of constructing KuCoin, we now have been clear to our customers. The overview of a few of KuCoin’s cold and warm pockets addresses are clickable for his or her present holdings. https://t.co/zpjdlwoSpx https://t.co/vEuNY6LhW9
— Johnny_KuCoin (@lyu_johnny) November 11, 2022
Lyu’s string of tweets adopted his earlier denial of “publicity on FTX or FTT” as speculated by Cobie, the host of the crypto podcast UpOnly.
No, it’s false.KuCoin has no publicity on FTX or FTT. https://t.co/tF3uTJbUGE
— Johnny_KuCoin (@lyu_johnny) November 11, 2022
Disclosure of Kucoin Main Holdings
Lyu disclosed Kucoin’s cold and warm pockets addresses and holdings inside one of many tweets. The full holdings included:
- BTC (20,504 BTC)
- ETH (180,299 ETH)
- USDT (1,075,909,241 USDT)
- USDC (365,722,839 USDC)
- KCS (69,601,075 KCS)
The holdings snapshot was taken on Nov. 11 at 7:00 UTC and doesn’t signify all of Kucoin’s holdings. Solely main tokens on BTC, ETH, TRX, KCC, ALGO, ABR, OPT, and EOS are included. The complete December audit report “will give even larger element.”
Lyu continues, describing Kucoin because the “No. 1 Altcoin change” that additionally gives “over 700+ tradable cryptocurrencies.” He explains that the pockets particulars (listed above) are the 5 main cash made public in the present day and that the disclosure marks Kucoin’s first step in constructing public belief.
Moreover, Lyu explains {that a} whole of 29,696 ETH is at present being staked because the Ethereum Proof-of-Stake (PoS) node, and that “every node has 32 ETH on the deal with.”
“Because of the extreme variety of node addresses, we won’t disclose them one after the other in our weblog.”
Of their newest press launch, Kucoin have reiterated that they’re engaged on the Merkle-tree proof-of-reserves – as proposed by CZ – and are at present awaiting completion of an audit via the third-party auditor, Armanino LLP. Following the audit – which would require round a month to finish – Kucoin said that they “will publish the proof in early December.”
The Domino Impact
Kucoin isn’t the primary of exchanges to be pushed to reveal its proof-of-reserves following rumors of FTX publicity. Crypto.com CEO, Kris Marszalek additionally spoke out in response to Cobie having already addressed Crypto.com insolvency rumors.
It’s false @cobie
I spoke in regards to the extent of our publicity to FTX 2 days in the past:https://t.co/aJtWZBUryU
— Kris | Crypto.com (@kris) November 11, 2022
On the time of writing, Kucoin Token (KCS) value is $7.83, and is down 6.56% during the last 24 hours.
