KuCoin users are concerned about exchange's stablecoin balance kucoin kcs ftx ftt $ftt $kcs
As it turned out, the main reason for users' concern was a drop in the number of stablecoins held by the exchange by $240 million in the last seven days. With the total balance of stablecoins held by KuCoin equivalent to $1.1 billion, it was a question of 20% and more.
However, KuCoin did not withdraw funds but simply switched networks, exchanging 300 million USDT from Ethereum to TRC through the Bitfinex exchange. Moreover, over the past seven days, the exchange has not experienced an outflow of stablecoins at all and even registered a net inflow of $63 million.
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