KuCoin announced that its press release issued under the headline “KuCoin Announces $10-Million Strategic Investment From SIG” on July 21, 2022, included certain errors. The corrected headline and press release are set forth in their entirety below.
SIG affiliate purchases $8 million worth of KCS tokens
On July 21, 2022, SAI Global China Fund I, a member of the Susquehanna International Group of companies (SIG), purchased $8 million worth of KCS tokens in a secondary transaction. In addition to the purchase of the KCS, it is anticipated that SIG will provide insights to KuCoin, a leading global crypto exchange, in relation to blockchain startup incubation and KCS and KCC ecosystem building.
SIG is a global quantitative trading firm founded with an entrepreneurial mindset and a rigorous analytical approach to decision-making. As one of the largest proprietary trading firms in the world, it is an expert in trading essentially all listed financial products and asset classes, with a focus on derivatives, and handles millions of transactions on exchanges worldwide every day.
Established in 2017, KuCoin has developed into a top-five crypto exchange with over 20 million users globally. Known as the home of altcoins, the platform has supported over 700 tokens and 1,200 trading pairs. According to its 2022 H1 Review Report, KuCoin has achieved over $2 trillion in trading volume, a 180% increase compared to the same period in 2021.
KuCoin intends to upgrade its platform infrastructure and enrich its product lineup, preparing for the next bull run. KuCoin also is in the midst of a global expansion and hiring plan. Despite the current crypto winter, KuCoin still has 300 job openings to be filled. In addition, KuCoin and SAI wish to support promising crypto startups through incubation, investment and advice, especially projects built on the KCC chain.
Johnny Lyu, CEO of KuCoin, stated:
“KuCoin has been through a few crypto cycles, and we are committed to building no matter what. KuCoin strives to solidify its leading role as a centralized exchange and facilitate its ecosystem expansion in the decentralized Web3 world.”
SIG is a global quantitative trading firm founded with an entrepreneurial mindset and a rigorous analytical approach to decision-making.
SIG began investing in private equity and venture capital in the China market in 2005 and has focused on investment in companies mainly operating in the People’s Republic of China. SIG invests across the continuum of the venture capital life cycle, from early- to late-stage, and in a variety of industry sectors. In the last decade, SIG has invested in over 350 companies, including leading players such as ByteDance, Agora, Bona Film, Boohee, ClassIn, Cloudwise, CSC, Damai, Finch, Flash Delivery, Musical.ly, PalFish, PatPat, Ramen Talk, TTP Car, VSPN, WM Motor, Ximalaya, XtalPi, Yalla, Yitiao, Yunxuetang, Zhiyun Health, Zuiyou, with total investment amount exceeding $3.5 billion. SIG has achieved initial public offerings or merger exits in more than 70 companies. To find out more, visit https://sig.com/.
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusiveness and community action reach, it offers over 700 digital assets. Currently, it provides spot trading, margin trading, peer-to-peer fiat trading, futures trading, staking and lending to its 20 million users in 207 countries and regions.
KuCoin is currently one of the top five crypto exchanges, according to CoinMarketCap. In 2021, Forbes named KuCoin one of the Best Crypto Exchanges. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
To find out more, visit https://www.kucoin.com.
This press release contains forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Forward-looking statements in this press release speak only as of the date on which they were made. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible to predict all of them. There is no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.