KuCoin Surges to Top Spot in CryptoQuant's Exchange Leader Report

KuCoin has taken the top spot in CryptoQuant's Exchange Leader report, outranking larger rivals including Binance and Coinbase. The Seychelles-based exchange earned a proof-of-reserves transparency score of 96.7 out of 100 through its monthly reserve reports, which are verified by third-party security firm Hacken.

KuCoin has issued over 39 consecutive monthly reserve reports, with the most recent dated February 6, 2026. All publicly disclosed reserve ratios exceeded 100%. Bybit placed second in the report with a score of 93.2, also backed by regular disclosures and Hacken attestations.

Binance received a lower score of 75.2 due to its broad wallet disclosures but lack of full independent audit of its entire balance sheet. Coinbase ranked significantly behind at 44.3, largely because it does not publish comprehensive wallet address mappings or offer on-chain verification for customer balances.