KuCoin disputes claims of 77% drop in Bitcoin reserves, unveils robust 106% reserve ratio

By: bitcoin ethereum news|2025/05/06 22:00:01
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KuCoin has pushed back against claims suggesting it lost over 77% of its Bitcoin reserves since 2023. The crypto exchange labeled the circulating figures misleading and inaccurate, emphasizing its commitment to transparency and responsible reporting. KuCoin’s falling Bitcoin reserves? The controversy stems from a report by Onchain School, a data-focused platform citing data from CryptoQuant. According to their findings, KuCoin’s Bitcoin holdings reportedly fell from 18,300 BTC in June 2023 to roughly 4,100 BTC by April 2025. The analysis attributes this steep drop, which amounts to around 14,200 BTC, to KuCoin’s introduction of mandatory know-your-customer (KYC) rules in mid-2023. The KYC policy, which took effect in August 2023, required all users to complete identity verification. At the time, KuCoin stated the move was necessary to combat criminal activity such as money laundering and terrorism financing. Onchain School suggested this compliance push prompted users to withdraw funds, citing privacy concerns. The analytics platform also claimed KuCoin’s situation reflects a broader trend of declining Bitcoin reserves across centralized exchanges. However, it stressed that KuCoin’s case was notably more severe due to its timing and scale. KuCoin releases proof-of-reserve KuCoin rejected the findings and expressed concern over what it described as irresponsible reporting. The exchange stated that the reported numbers do not reflect its reserve levels and warned that inaccurate data could erode public confidence. The firm stated: “We’re concerned about the spread of false or misleading information by some platforms. Irresponsible reporting misleads users and undermines trust in the crypto ecosystem.” To reinforce its position, the exchange shared its 30th Proof of Reserves, which showed that it held a 106% Bitcoin reserve ratio. This includes about 9,751 BTC in user funds and 10,306 BTC in exchange-controlled wallets. The report also showed reserve coverage of 116% for Ethereum, 114% for USDT, and 109% for USDC. Source: https://cryptoslate.com/kucoin-disputes-claims-of-77-drop-in-bitcoin-reserves-unveils-robust-106-reserve-ratio/

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.


2025 Full-Year Financial Highlights


Revenue: Expected to be between $39 million and $41 million, reaching a new company high.


Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.


Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.


Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.


Core Consumer Food Business Performance


In 2025, DDC's core consumer food business maintained strong operational performance.


The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.


In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.


Bitcoin Reserve Update


In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.


As of December 31, 2025: The company holds 1,183 BTC.


As of February 28, 2026: Holdings increased to 2,118 BTC


Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC


DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."


Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation


About DDC Enterprise Limited


DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.


The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.


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