Those who use Bitcoin as an investment are a large number and they do not care about privacy, on the contrary, they may keep their currencies in centralized platforms.
I agree with this, and from what i've noticed, though i may be wrong, the number of people who use BTC in this way are more than those that don't, so Kucoin will surely lose many of their privacy conscious user base, but the majority would continue using them because they don't care about privacy.
Kucoin is also a centralized exchange, so the user base that traded on the exchange because kyc was not compulsory before, knew that one day Kucoin will make it mandatory, so they may not be surprised or upset at the decision of the exchange and some of them may just continue to trade there. But if it were to be a p2p decentralized exchange that implemented kyc, like Localbitcoins for example, they would lose most of their user base as all their customers trade with them because there is no kyc requirement and they never expected that any should ever be added.
