PANews reported on January 28 that KuCoin has reached a favorable settlement agreement with US regulators, which is an important milestone in the company's development. According to the settlement agreement, the US Department of Justice agreed to drop all charges against KuCoin founder Michael Gan and founder Eric Tang after meeting certain conditions.

As part of the settlement, Michael announced that he would withdraw from all positions related to KuCoin and its affiliates. In the statement, he expressed his sincere gratitude to the KuCoin community for their trust and support, and expressed his confidence in the leadership team headed by BC Wong, believing that under their leadership, KuCoin will continue to grow and create value for users and the industry.

Looking ahead, Michael said he will focus on new projects that drive growth and innovation in the cryptocurrency industry.