KuCoin Co-Founders Exit After $300M Settlement

KuCoin Settles for $300 Million Over U.S. Charges

• KuCoin pleaded guilty to operating an unlicensed money-transmitting business.
• The company agreed to pay $113 million in fines and $184.5 million in forfeitures.
• Founders Chun Gan and Ke Tang signed deferred prosecution agreements, each forfeiting $2.7 million.
• Gan stepped down from all roles at KuCoin as part of the settlement.
• The case follows a previous settlement with New York regulators involving a $22 million penalty.

KuCoin, a Seychelles-based crypto exchange, has agreed to pay nearly $300 million in penalties after pleading guilty to operating without a license. Founders Chun Gan and Ke Tang will forfeit funds but avoid further legal action under deferred prosecution agreements.