KuCoin Leaps Ahead in CryptoQuant Transparency Rankings
KuCoin has outperformed larger rivals, including Binance and Coinbase, in CryptoQuant's annual Exchange Leader report. The Seychelles-based exchange earned a proof-of-reserves transparency score of 96.7 out of 100, surpassing its competitors.
The report evaluated exchanges across trading volume, reserve disclosures, and derivatives activity during 2025. KuCoin topped the rankings through its monthly proof-of-reserves framework, which allows users to verify balances via Merkle-tree inclusion tools, published wallet addresses, and third-party attestations from security firm Hacken.
KuCoin has issued more than 39 consecutive monthly reserve reports, with the most recent dated February 6, 2026. All publicly disclosed reserve ratios exceeded 100%. Bybit placed second with a score of 93.2, also backed by regular disclosures and Hacken attestations.