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KuCoin Expands User Base to 31M, Doubles Trading Volume

Published

2 years ago

on

KuCoin Expands User Base to 31M, Doubles Trading Volume

2023 proved
to be positive for companies in the cryptocurrency industry, as confirmed by
another report summarizing the past year published by a large digital asset
exchange. KuCoin joins its competitors and boasts an increase in its customer
base to over 30 million and a doubling of its spot market volumes.

According
to the report, KuCoin has seen a 16% increase in its user base, reaching nearly
31 million users worldwide. The platform also experienced a 106% surge in spot
trading volume, indicating strong user engagement and confidence.

“The
most significant growth in the past year came from the Latin America region,
which saw a 34% increase,” the company reported. “Additionally,
substantial user base growth has been observed in other key regions, including
the Middle East and Africa (27%) and Europe (25%), compared to 2022.”

In
addition, the report reveals KuCoin’s achievements in asset expansion. The
crypto exchange added 149 new assets, bringing the total to 830 digital tokens,
and supported 1,246 trading pairs as of December 2023. KuCoin also launched
KuCard, a crypto debit card that allows users to spend their crypto assets
anywhere. KuCoin reports that over 10,000 KuCard holders have been registered
within a month of its launch.

“Our
vision has always been to be the ‘People’s Exchange’,” said Johnny Lyu, the
CEO of KuCoin. “This year’s achievements reflect not just our growth, but
our dedication to providing a safe and secure trading platform as we continue
expanding.”

Last week, another
cryptocurrency exchange, Bitget, also summarized its results for 2023, noting
a nearly twofold increase in spot volumes and adding 12 million new users. The
industry was helped, among other things, by the Bitcoin ETF buzz, which led to digital
asset investment products seeing $2.25 billion of inflows in 2023, one of the
best results since 2017. This also translated into increased activity of retail
investors and a surge in cryptocurrency volumes.

2024 also
starts positively for crypto platforms, especially since expectations
for introducing a spot Bitcoin ETF are currently heated to the maximum, and the
BTC price is testing its highest levels since April 2022.

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Enhanced Security

The report
also showcases KuCoin’s efforts to enhance security and trust, such as
maintaining solid reserve ratios, upgrading KYC protocols, implementing
advanced security measures, and offering responsive customer service. KuCoin
states that the safety of users’ assets is paramount and adheres to the highest
risk management standards and world-class security practices.

“As we
continue to expand and innovate, our focus remains steadfast on ensuring that
every decision we make aligns with the needs and security of our users,”
Lyu added.

Furthermore,
the report highlights KuCoin’s involvement in various initiatives and events to
promote the adoption and development of blockchain and crypto. KuCoin published
eight market reports of the “Into the Cryptoverse” series, featuring
different regions and countries. KuCoin also participated in over 30 online and
offline events across multiple continents.

2023 was
not without its problems. In December, the exchange reached a settlement of $22
million with the state of New York and committed to ceasing its services for
users in the region. KuCoin faced charges for offering, selling, and purchasing
cryptocurrencies as securities and commodities, violating New York’s laws.
Earlier in October, it was targeted by the FCA along with several other
exchanges, ending up on a list of restrictions.

2023 proved
to be positive for companies in the cryptocurrency industry, as confirmed by
another report summarizing the past year published by a large digital asset
exchange. KuCoin joins its competitors and boasts an increase in its customer
base to over 30 million and a doubling of its spot market volumes.

Advertisement

According
to the report, KuCoin has seen a 16% increase in its user base, reaching nearly
31 million users worldwide. The platform also experienced a 106% surge in spot
trading volume, indicating strong user engagement and confidence.

“The
most significant growth in the past year came from the Latin America region,
which saw a 34% increase,” the company reported. “Additionally,
substantial user base growth has been observed in other key regions, including
the Middle East and Africa (27%) and Europe (25%), compared to 2022.”

In
addition, the report reveals KuCoin’s achievements in asset expansion. The
crypto exchange added 149 new assets, bringing the total to 830 digital tokens,
and supported 1,246 trading pairs as of December 2023. KuCoin also launched
KuCard, a crypto debit card that allows users to spend their crypto assets
anywhere. KuCoin reports that over 10,000 KuCard holders have been registered
within a month of its launch.

“Our
vision has always been to be the ‘People’s Exchange’,” said Johnny Lyu, the
CEO of KuCoin. “This year’s achievements reflect not just our growth, but
our dedication to providing a safe and secure trading platform as we continue
expanding.”

Advertisement

Last week, another
cryptocurrency exchange, Bitget, also summarized its results for 2023, noting
a nearly twofold increase in spot volumes and adding 12 million new users. The
industry was helped, among other things, by the Bitcoin ETF buzz, which led to digital
asset investment products seeing $2.25 billion of inflows in 2023, one of the
best results since 2017. This also translated into increased activity of retail
investors and a surge in cryptocurrency volumes.

2024 also
starts positively for crypto platforms, especially since expectations
for introducing a spot Bitcoin ETF are currently heated to the maximum, and the
BTC price is testing its highest levels since April 2022.

Enhanced Security

The report
also showcases KuCoin’s efforts to enhance security and trust, such as
maintaining solid reserve ratios, upgrading KYC protocols, implementing
advanced security measures, and offering responsive customer service. KuCoin
states that the safety of users’ assets is paramount and adheres to the highest
risk management standards and world-class security practices.

Advertisement

“As we
continue to expand and innovate, our focus remains steadfast on ensuring that
every decision we make aligns with the needs and security of our users,”
Lyu added.

Furthermore,
the report highlights KuCoin’s involvement in various initiatives and events to
promote the adoption and development of blockchain and crypto. KuCoin published
eight market reports of the “Into the Cryptoverse” series, featuring
different regions and countries. KuCoin also participated in over 30 online and
offline events across multiple continents.

2023 was
not without its problems. In December, the exchange reached a settlement of $22
million with the state of New York and committed to ceasing its services for
users in the region. KuCoin faced charges for offering, selling, and purchasing
cryptocurrencies as securities and commodities, violating New York’s laws.
Earlier in October, it was targeted by the FCA along with several other
exchanges, ending up on a list of restrictions.

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Crypto

Cryptocurrency Investment Fraud: Bizman loses Rs 2.6 cr to crypto, investment fraud | Hyderabad News – The Times of India

Published

10 hours ago

on

February 26, 2026

By

Cryptocurrency Investment Fraud: Bizman loses Rs 2.6 cr to crypto, investment fraud | Hyderabad News – The Times of India

Hyderabad: A 69-year-old businessman from Somajiguda lost 2.65 crore allegedly in a cryptocurrency and stock investment fraud. Based on his complaint, Hyderabad Cyber Crime police have registered a case.The complainant was first contacted by a fraudster posing as Ramya Krishnan on Aug 30, 2025 through Facebook. She persuaded the victim to invest in a cryptocurrency and stock trading platform, Polyus Finance PFP Gold, hosted at the domain pfpgoldfx.vip, promising high returns to finance his proposed resort and apparel ventures.Fraudsters provided the victim a contact number for daily communication and sent screenshots showing notional profits credited in his wallet in USDT cryptocurrency. To build trust, the fraudster even allowed the victim a token withdrawal of 4,300 on Sept 12, 2025.Encouraged, the victim transferred over 2.65 crore in 10 transactions between Sept 10 and Dec 39, 2025 to various current accounts provided by the accused.When he attempted to withdraw his ‘earnings’, the accused demanded an additional 15% conversion commission. After he refused, the website became inaccessible and calls to the fraudsters went unanswered.Realising that he was duped, the victim filed an online report on the National Cybercrime Reporting Portal (NCRP) before approaching the Cyber Crime police on Feb 25.Based on his complaint, a case was registered under Sections 66C and 66D of the Information Technology Act and Sections 111(2)(b) (Organised crime), 318(4) (Cheating), 319(2) (Cheating by personation), 336(3) (Forgery for purpose of cheating), 338 (Forgery of valuable security, will, etc.) and 340(2) (Using as genuine a forged document or electronic record) of the Bharatiya Nyaya Sanhita on Wednesday. Police were analysing financial transactions to identify and arrest the accused.

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Crypto

Terror groups receive $1.7b. from Iran through Binance | The Jerusalem Post

Published

22 hours ago

on

February 26, 2026

By

Terror groups receive .7b. from Iran through Binance | The Jerusalem Post

Iranians were able to access more than 1,500 Binance accounts last year, and $1.7 billion was transferred from two of them to terrorist proxies, The New York Times reported Monday.

That was a potential violation of global sanctions, the report said, citing company records and documents collected by internal investigators.

The cryptocurrency exchange site reportedly fired or suspended at least four employees cited in the internal investigation. The company blamed “violations of company protocol” relating to its clients’ data, the Times reported.

The report came days after The Jerusalem Post spoke with experts from blockchain intelligence platform NOMINIS.io about how the Iranian regime was evading Western sanctions through cryptocurrencies.

The regime maintains a steady income using cryptocurrency through oil sales to Russia and China, NOMINIS CEO Snir Levi said at the time.

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Binance founder Changpeng Zhao, who pleaded guilty to failing to implement a program to prevent money laundering, arrives for his sentencing in federal district court in Seattle, Washington. (credit: REUTERS/Deborah Bloom)

Regarding the latest scandal, he told the Post this week: “The latest allegations about Binance come months after the lawsuit by the victims’ families of October 7 – the ongoing Balva [versus] Binance case.

The majority of the allegations can be easily confirmed by on-chain data. There are thousands of cases where money has been sent and received to and from wallets that have clear connections to Iran.”

Binance founder Changpeng Zhao is being sued by the families of American victims and hostages of the October 7 massacre. He has been accused of knowingly enabling Hamas, Hezbollah, Palestinian Islamic Jihad, and Iran’s Islamic Revolutionary Guard Corps to transfer more than $1b. through its platform, including more than $50 million after the October 7 massacre.

Zhao pleaded guilty to anti-money-laundering violations in connection with Binance in 2023. US President Donald Trump pardoned him last October.

“They say what he did was not even a crime,” Trump told reporters last October. “It wasn’t a crime. That he was persecuted by the Biden administration, and so I gave him a pardon at the request of a lot of very good people.”

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Binance representative Rachel Conlan said the accounts linked to the $1.7b. in Iranian transactions have been removed and the relevant authorities were informed.

“Any suggestion that Binance knowingly allowed sanctionable activity to continue unchecked is incorrect and defamatory,” she said, despite Zhao’s earlier admission of anti-money-laundering violations.

More than half a dozen compliance officials have left Binance, including a sanctions manager and the leader of the enterprise compliance team, over the past few months, the Times reported. 

“No investigator was dismissed for raising compliance concerns or for reporting potential sanctions issues,” Conlan said in a statement to The Guardian.

Democrat senator opens inquiry into cryptocurrency company

While Conlan insisted there was no wrongdoing, US Sen. Richard Blumenthal (D-Connecticut) opened an inquiry into Binance on Tuesday, seeking records of the company’s dealings in Hong Kong , where funds have previously been transferred in a network against sanctions.

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“Binance appears to have ignored warnings and recommendations to prevent Iranian money-laundering schemes on its cryptocurrency exchange,” Blumenthal wrote in a letter to Binance co-chief executive Richard Teng.

“According to documents obtained by the Times and the Journal, Binance was even warned that Hexa Whale was financing terrorist organizations such as the Yemeni Houthis, and internal investigators found cryptocurrency transfers to wallets associated with Iran’s Islamic Revolutionary Guards Corps and payments to crew members of Russia’s sanctions-evading shadow fleet of oil tankers,” he wrote.

“Instead of actually preventing illicit use, Binance has sought to evade accountability and influence the White House through lobbying and a financial partnership with World Liberty Financial (WLFI), the cryptocurrency firm owned by the sons of President Trump and his special envoy Steve Witkoff… This influence campaign has worked: In May 2025, the Securities and Exchange Commission announced that it was dismissing a lawsuit against Binance for lying to regulators and mishandling funds, followed in October by the stunning Presidential pardon of founder Changpeng Zhao.”

“The scale of the newly revealed illicit transfers – uncaught until nearly $2 billion flowed to sanctioned entities – and the unexplained firing of internal investigators call into question Binance’s compliance with American sanctions and banking laws, and its 2023 agreement to resolve the previous federal investigation,” Blumenthal wrote.

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Crypto

1 Artificial Intelligence (AI) Stock With More Potential Than Any Cryptocurrency | The Motley Fool

Published

1 day ago

on

February 25, 2026

By

1 Artificial Intelligence (AI) Stock With More Potential Than Any Cryptocurrency | The Motley Fool

Crypto is stumbling while AI is advancing.

We’re in one of those times when market players are shunning crypto investments. Factors such as persistent inflation, a declining likelihood of interest rate cuts (typically a major catalyst for crypto price pops), and outflows from once-hotly popular crypto exchange-traded funds (ETFs) have put the hurt on even the most prominent digital coins and tokens.

Given that, it’s worthwhile to consider another high-potential technology — artificial intelligence (AI). Despite huge growth opportunities ahead, AI has also taken it on the chin lately as well. It still has a bright future, and I believe investors can still hop on this train with a company that’s not a pure play, but one deeply — albeit not exclusively — involved in the technology.

Read on to see what AI giant I believe can outpace even the most popular cryptocurrencies.

Image source: Alphabet.

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Alphabet is advancing AI

That company is none other than Google owner Alphabet (GOOG +0.68%)(GOOGL +0.68%). Although it’s still known, with some justification, as a search engine operator, the company has been neck-deep in AI for years. It’s developed both hardware and the large language models (LLMs) powered by it, and it clearly aims to be a top name in this technology.

I have no doubt it can succeed. Google’s AI component Gemini is now fused into the company’s search and many other features (like Google Mail). This makes it a convenient option for web searchers querying for more than basic information on a subject. Its functionalities are also integrated into offerings like Google Docs, where users can harness AI to help with their writing. The Gemini platform itself is a hot item, with a monthly active user count now topping 750 million.

On the hardware front, Alphabet is not only actively developing and deploying Tensor Processing Units (TPUs) — chips designed to power AI functionality — it invented them. Originally designed to bolster the company’s AI capabilities, the processors are now being sold to external customers, opening another revenue stream.

Alphabet Stock Quote

Today’s Change

(0.68%) $2.11

Current Price

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$313.03

AI is a growth catalyst for Alphabet

Alphabet doesn’t break out the revenue it derives from AI hardware and services, so we can’t put a precise number on how much the technology is bringing in for the company.

Still, it’s clearly foundational these days — the phrase “AI” was mentioned 94 times during management’s fourth-quarter and full-year 2025 earnings conference call. And the tech giant stated in the accompanying earnings release that “We’re seeing our AI investments and infrastructure drive revenue and growth across the board.”

Alphabet’s two main revenue buckets, Google Services and Google Cloud — both of which feature AI-enhanced products — have seen robust increases. The former’s revenue grew 14% year over year during the quarter to almost $96 billion, while the latter’s skyrocketed 48% to just under $18 billion.

The numbers don’t lie. Even if the economy slows or inflation remains stubborn, demand for Alphabet’s impressively large suite of AI products and services will remain strong. I’d feel much more confident parking my money in this AI stock than gambling it on a wobbly cryptocurrency.

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