KuCoin has experienced over $1.2 billion in outflows since being sued by the U.S. Department of Justice and CFTC

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Cointime2024/04/03 10:55

By:Cointime

Following the charges made by the US Department of Justice and the Commodity Futures Trading Commission last week, the daily trading volume of the cryptocurrency exchange KuCoin dropped from $2 billion on March 26th to $520 million, a decrease of about 75%. Since March 26th, KuCoin's outflow of funds has exceeded $1.2 billion. Analysts at Kaiko believe that on-chain data shows that KuCoin users have been transferring funds to competitors' cryptocurrency exchanges, including Coinbase, Binance, and OKX.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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