Wu said: KuCoin exchange considered stopping operations and selling in 2023

ChainCatcher news reports that, according to Wu's Blockchain, three independent sources have confirmed to Wu that in 2023, KuCoin considered halting operations and selling the exchange. Relevant personnel from multiple exchanges, including Binance, received information about the sale. In 2023, many of KuCoin's businesses accelerated divestment to reduce risks.
In 2023, KuCoin was subjected to a criminal investigation initiated by the U.S. DOJ, while also facing multiple investigations domestically in China. KuCoin was previously the only major offshore exchange that did not ban U.S. IPs. Wu's data research conducted in 2022 indicated that KuCoin might face significant pressure from the U.S. The DOJ pointed out that KuCoin had a negative attitude towards regulation and had never submitted any necessary suspicious activity reports. It was only in July 2023, after KuCoin was informed of the U.S. criminal investigation into its activities, that KuCoin initiated KYC procedures for new customers.