From lines of code at a laptop to international crypto exchange: a story behind KuCoin
Behind the KuCoin creation, there are two tech geeks who were early blockchain adopters. Having started coding at the age of 8 and founded his first startup at 16, in 2012, Michael heard about Bitcoin (BTC) from his boss Eric at a private equity investment firm IDG Capital, and immediately began mining. While he tried to sell some Bitcoin on the Mt.Gox exchange, which was the world's largest trading platform at the time, he discovered how difficult it was for beginners to navigate.
By the end of 2013, realizing the potential of crypto, Michael and Eric wrote the first code at a cafe. In 2017, they decided to focus on their venture full time and created the “People’s Exchange,” KuCoin.
Cointelegraph talked to Johnny Lyu, the CEO of KuCoin, about the struggles and successes of running one of the world’s biggest crypto exchanges.
How did KuCoin change over time?
Following KuCoin's rapid growth, we received $20 million in funding from IDG Capital and Matrix Partners in 2018. In 2019, we launched innovative products such as KuCoin 2.0, Spotlight, KuCoin Futures, Earn (formerly known as Pool-X) and Margin Trading. These have propelled KuCoin from a crypto exchange that only has spot trading services to a platform that offers a diverse range of crypto financial services.
We are constantly innovating our products. As a result, we now offer over 640 tradable assets, have become a veritable Top 1 Altcoin Exchange and rank among the top five on CoinMarketCap. Forbes Advisor has named KuCoin the best cryptocurrency trading platform in the world in 2021.
In 2022, The Ascent, a Motley Fool service, named KuCoin the Best Cryptocurrency Apps for Enthusiasts.
What is the most difficult struggle the exchange had to overcome and how did it do
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