KuCoin has released its 30th Proof of Reserves report, indicating that all top cryptocurrencies on the platform are fully reserved and overcollateralized. As of April 30, 2025, Bitcoin reserves are at 106%, Ethereum at 116%, USDT at 114%, and USDC at 109%.
Detailed KuCoin Reserve Ratios
According to KuCoin's latest Proof of Reserves report, all user deposits are fully covered, and the company has additional funds exceeding 100%. As of April 30, 2025, the total Bitcoin reserve was 106%, with 9,751.17 BTC stored in user accounts and a total of 10,306.78 BTC in wallets. Ethereum shows a reserve rate of 116%, indicating that 145,807.40 ETH is stored by users against 168,779.13 ETH held in wallets.
Conflicting Narratives About KuCoin's Reserves
Despite the reserves report, KuCoin has faced accusations regarding the accuracy of its assets. Data from CryptoQuant indicated that since June 2023, Bitcoin reserves had decreased by 77.6%. KuCoin has refuted these allegations, labeling them as false and requesting more diligence in information dissemination.
Impact of Reserve Reports on the Market
Critics argue that Proof of Reserves reports may not provide a complete financial picture as they do not account for potential liabilities or off-chain arrangements. KuCoin asserts that its reserves are sufficient, as demonstrated in their reserve reports.
The KuCoin Proof of Reserves report highlights that the exchange maintains high reserves across all major assets while raising questions about transparency and accuracy in light of market scrutiny.
