Crypto exchange KuCoin saw about $1 billion in crypto withdrawals over the past 24 hours and assets under management (AUM) slumped 20% as the trading platform faced charges from U.S. authorities, data from Nansen and Arkham Intelligence shows.
Blockchain data from Arkham Intelligence shows that the amount of crypto assets held by tagged KuCoin crypto addresses plummeted to $4.8 billion from $6 billion on Tuesday. Arkham's figure includes price fluctuations, but crypto markets were generally little changed over the period, so the decrease was most likely a result of investors withdrawing assets from the platform.
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