The U.S. Justice Department indicted KuCoin and the two founders

[dwyane36]

I used KuCoin in the past and liked their quick token listings. There were many tokens that I had to trade on KuCoin instead of Binance. However, since 2022, I have chosen Binance to make it easier to manage my portfolio.

If I were still a KuCoin user, I would also tend to withdraw my assets to a personal address or another CEX instead of accepting the risks associated with KuCoin's future. I'm afraid that in the worst case scenario, all of KuCoin's assets will be frozen and users will have to wait to be compensated like in the FTX collapse.

I hope that the KuCoin team will be able to resolve this lawsuit and that KuCoin will continue to exist to serve users. After all, KuCoin is one of the most reputable CEXs and has a daily trading volume of nearly $750M. Its collapse could have a negative impact on the bullrun, and I don't hope for that.

Although the reserves of the exchange have decreased, they still have more than enough reserves to cover all obligations to users. So, I highly doubt that Kucoin will repeat the fate of FTX. As for daily trading volumes, this is something that Kukoin users should really pay attention to. If you look at the stats, you will notice that the daily trading volume on Kucoin was over $2 billion in early March, i.e. more than 2.5 times more than it is now.