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Category: CRYPTO NEWS
The post KuCoin CEO Michael Gan Steps Down After DOJ Settlement appeared on BitcoinEthereumNews.com. Michael Gan has stepped down as the CEO of KuCoin. Gan leaves KuCoin as part of settlement conditions with the DOJ. The DOJ agreed to dismiss all charges against Gan and Eric Tang. KuCoin founder Michael Gan has stepped down as the crypto exchange’s CEO following a settlement with the US Department of Justice (DOJ). Gan stepped down after the DOJ agreed to dismiss all the charges against him and his co-founder, Eric Tang, in the protracted case concerning regulation, money laundering, and other criminal matters. Gan published a farewell message on KuCoin’s blog highlighting his achievements as the company’s leader, including growing the exchange from scratch to a user base of 38 million. According to the outgoing CEO, KuCoin has grown into one of the world’s leading exchanges, playing a significant role in advancing the possibilities of blockchain technology. Details of the DOJ Settlement In the meantime, Gan considers the terms of the resolution between the DOJ and himself favorable, noting that the government agency has agreed to drop all the charges against him and Tang. He appreciated the DOJ for adopting a “constructive approach” to resolving the issue, noting how it highlights his lack of intent to violate US laws. According to Gan, the DOJ’s resolution reflects his lack of intent to commit fraud or similar criminal actions and provides much-needed regulatory clarity. He believes it would pave a clear path forward and enable KuCoin to focus on global growth, innovation, and value delivery. Related: KuCoin Defies Legal Turmoil, Returns to Indian Play Store Amidst DOJ and CFTC Battles BC Wong Appointed as New KuCoin CEO BC Wong, famously known as “BC” across the crypto industry, takes over from Gan as KuCoin’s new CEO. The crypto exchange has announced Wong’s appointment, describing the new CEO as “a seasoned…
2025-01-28T09:45:09+00:00
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