KuCoin Plans $10M Airdrop in Bitcoin and Kucoin Token a Day After DOJ Charges
Cryptocurrency change KuCoin’s CEO Johnny Lyu has revealed plans for a significant airdrop involving Bitcoin (BTC) and its native token KuCoin (KCS), amounting to a complete worth of $10 million.
Though Lyu didn’t immediately reference the federal costs in his letter, he hinted on the state of affairs by expressing gratitude to KuCoin customers for his or her assist and belief throughout the previous few days. He in contrast the airdrop to the change’s earlier reimbursement of traders who suffered losses within the Confido rug pull incident.
The delays in withdrawal skilled by some customers on March 26 and 27 may very well be attributed to the excessive quantity of transactions as virtually $800 million of funds have been withdrawn from the change. The airdrop serves as a gesture of appreciation to customers who remained loyal to KuCoin throughout this difficult interval. Particular guidelines for the airdrop occasion shall be launched in three days, in keeping with the weblog submit.
The Justice Division unveiled costs associated to violations of the Financial institution Secrecy Act, accusing the change’s founders of working an unlicensed money-transmitting enterprise and missing an Anti-Cash Laundering program. Concurrently, the Commodity Futures Buying and selling Fee (CFTC) initiated a civil case towards KuCoin for violations of the Commodity Change Act and CFTC rules.
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