KuCoin Outshines Binance and Coinbase in CryptoQuant's Exchange Transparency Report

KuCoin outperformed its larger rivals in CryptoQuant's annual Exchange Leader report, securing the top spot in exchange transparency with a score of 96.7 out of 100.

The Seychelles-based exchange earned its high rating through a monthly proof-of-reserves framework that allows users to verify balances via Merkle-tree inclusion tools and published wallet addresses.

KuCoin has issued over 39 consecutive monthly reserve reports, with the most recent dated February 6, 2026. All publicly disclosed reserve ratios exceeded 100%.

Binance ranked third in transparency, receiving a score of 75.2, while Coinbase trailed behind at 44.3 due to its lack of comprehensive wallet address mappings and on-chain verification for customer balances.