KuCoin's May PoR Report Shows 106% Bitcoin, 116% Ethereum Reserves

KuCoin, a prominent global cryptocurrency exchange, has released its 30th consecutive monthly Proof of Reserves (PoR) report, underscoring its dedication to transparency and user trust. The report verifies that the platform's reserves exceed the total assets held by its users, providing a robust safety net for digital assets including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC).

The May snapshot of KuCoin's reserves reveals that the exchange holds more digital assets than it owes to its users. Specifically, KuCoin's reserves for Bitcoin stand at 10,306.77 BTC, while user holdings total 9,751.17 BTC, resulting in a 106% reserve ratio. Ethereum reserves are even more substantial, with 168,779 ETH backing 145,807 ETH owed to users, achieving a 116% reserve ratio. Stablecoins also show strong safety margins, with 1.34 billion USDT in reserves for 1.18 billion in user assets and 93.42 million USDC in reserves against 85.71 million in deposits, representing a 109% reserve ratio.

KuCoin's PoR process is independently verifiable through Merkle Tree cryptography, a system that confirms the exchange holds customer assets on-chain at or above a 1:1 ratio relative to its liabilities. This cryptographic method 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. Additionally, KuCoin provides tools that allow users to independently verify their balances and compare them against published on-chain wallet addresses, further enhancing transparency and trust.

By consistently publishing detailed PoR reports, KuCoin aims to build and maintain trust in an industry still recovering from past transparency failures. The exchange's commitment to industry-leading verification systems reflects a long-term dedication to user protection and financial integrity. This ongoing transparency initiative is crucial for fostering user confidence and ensuring the stability of the cryptocurrency market.