KuCoin, a cryptocurrency exchange, faced over $1.1 billion outflows in 24 hours following US Department of Justice charges, leading to users withdrawing assets to avoid risks. The exchange retained around $4.02 billion in assets. The Commodity Futures Trading Commission (CFTC) Commissioner criticized the agency's enforcement action against KuCoin for alleged violations.
Caroline Pham, Commissioner of the Commodity Futures Trading Commission (CFTC), has publicly criticized her agency’s enforcement action against the cryptocurrency exchange @kucoincom . KuCoin was charged with the unlawful operation of the digital asset derivatives exchange on…
JUST IN: @CFTC COMMISSIONER SAYS THEY MAY BE INFRINGING ON SEC'S AUTHORITY IN KUCOIN CHARGES
Statement of @CFTCpham Regarding KuCoin Complaint: https://t.co/rQjB0Xjxe0
DOJ accuses crypto exchange KuCoin of money laundering violations and receiving billions in suspicious funds. https://t.co/2vCzKh80Nk
⚡KuCoin Faces Over $1.1B Outflows Following United States Department of Justice Charges Cryptocurrency exchange @kucoincom experienced a net outflow of around $1.195 billion within the last 24 hours while retaining approximately $4.02 billion in assets, including its exchange… https://t.co/I7Hic4p0VN
For the last 24 hours, #KuCoin has seen an outflow of $1.197B due to the news. Include: 274M $USDT 19866 $ETH ($72M) Users started to withdraw assets to avoid potential risks, for example, a whale withdrew 532B $PEPE ($4.35M) $PEPE 6 hours ago. Data: https://t.co/PMnxW0etPY https://t.co/hhXw0orG0f