Global cryptocurrency exchange KuCoin has released its 30th consecutive monthly Proof of Reserves (PoR) report, verifying that user assets in BTC, ETH, USDT, and USDC are fully backed—and even held with surplus collateral.
Key Highlights from KuCoin’s May 2025 PoR Report
- Reserve ratios exceed 100% for all major assets, ensuring extra security.
- Independent third-party verification confirms 1:1 on-chain backing.
- Transparency tools allow users to audit their holdings via Merkle Tree cryptography.
Detailed Reserve Breakdown
KuCoin’s May 2025 snapshot reveals the following reserve ratios:
| Asset | User Holdings | Exchange Reserves | Reserve Ratio |
|--------|---------------|-------------------|---------------|
| BTC | 9,751.17 | 10,306.77 | 106% |
| ETH | 145,807 | 168,779 | 116% |
| USDT | 1.18B | 1.34B | 114% |
| USDC | 85.71M | 93.42M | 109% |
👉 See KuCoin’s full reserve data
How KuCoin’s Proof of Reserves Works
Merkle Tree Verification
KuCoin employs Merkle Tree cryptography to enable independent audits:
- User balances are encrypted into a single hash.
- On-chain wallet addresses are publicly available for cross-checking.
- Tamper-proof design ensures data integrity.
User Transparency Tools
- Self-verification portals for balance checks.
- Monthly public reports since 2023.
Why Transparency Matters in Crypto
KuCoin’s 30-month streak of PoR reports addresses industry-wide concerns after high-profile exchange collapses. By over-collateralizing reserves, the exchange aims to:
- Rebuild trust post-FTX era.
- Set a benchmark for accountability.
- Encourage adoption through verified safety.
👉 Compare top exchanges’ reserve policies
FAQ Section
1. How often does KuCoin publish PoR reports?
Monthly, with on-chain data updated in real-time.
2. Can users verify their own holdings?
Yes—via KuCoin’s Merkle Tree tool and public wallet addresses.
3. What happens if reserves fall below 100%?
KuCoin has never dipped below 100%. Excess reserves act as a buffer.
4. Are stablecoins like USDT fully backed?
Yes. KuCoin holds $1.34B USDT** against **$1.18B user deposits.
5. How does this compare to Binance’s PoR?
Both exchanges use Merkle Trees, but KuCoin discloses specific wallet addresses for deeper audits.
Final Thoughts
KuCoin’s 30th PoR report underscores its commitment to transparency—a critical step for industry-wide trust. With 116% ETH reserves and user-verifiable tools, the exchange sets a high standard for asset-backed security.
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