2024

Billion

Gate.io, a leading crypto exchange and Web3 innovator, has published its <a href="https://www.gate.io/proof-of-reserves?ch=GM_mwpr500_20240530&amp;utm_campaign=TR_LdmKGtNE&amp;utm_content=&amp;utm_medium=Announcement&amp;utm_source=CH_l3hBY9KM&amp;utm_term=" target="_blank" rel="noopener noreferrer nofollow">May 2024 Proof of Reserves</a> (PoR) report, transparently demonstrating a reserve-deposit ratio of 115.34% and a total reserve value of $6.49 billion (USD) at the time of completion.
This latest report covers over 209 digital assets, an increase of 20 since the previous report, and maintains its position as the most extensive of any <a href="https://thenewscrypto.com/news/exchange-news/" target="_blank" rel="noopener noreferrer nofollow">exchange</a>. Other key data from the report include:
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/iXf_fuPPAEuTqHaBrxB4mJFfXWq1Y-kNEuH2NxZGbdNIGEe2JtfrdeR1REtdL49BXv6jSLn06SMIjeKXlBVqQHYrCT7aEhnRvw3P_VTVzRbnf4js3E8hyvWIxseF0u46vzKDDyfVBwcN3LZsKgpTNg" alt="">
 </figure>
</div>
<ul>
 <li>Gate.io Total Reserves: $6,492,214,095</li>
 <li>Excess Reserves: $863,807,685</li>
 <li>Reserve-Deposit Ratio: 115.34%</li>
 <li>BTC: 116.55%</li>
 <li>ETH: 113.43%</li>
 <li>USDT: 105.47%</li>
 <li>USDC:&nbsp; 102.65%</li>
</ul>
Gate.io was one of the first exchanges to commit to PoR in 2020 and has consistently enhanced its reporting methods since. Its PoR method, <a href="https://gimg.gateimg.com/PoR/Gate.io%20PoR%20Implementation%20upd.pdf" target="_blank" rel="noopener noreferrer nofollow">audited</a> and praised by the leading blockchain security firm Hacken, has also been released as open-source to encourage industry participation. More recent upgrades, such as increased reporting frequency, broader coverage, and the introduction of zero-knowledge tech for better privacy and security, demonstrate the exchange’s commitment to meticulous reporting and transparency.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “We are pleased to share the publication of our May 2024 Proof of Reserves report, underscoring our unwavering dedication to transparency and accountability. Our commitment to upholding a robust reserve-deposit ratio and expanding our reporting standards reflects our ongoing efforts to ensure the security and confidence of our users and the industry,” said Gate.io Founder and CEO Dr. Lin Han.
</blockquote>
Gate.io’s May 2024 reserves report is available on its <a href="https://www.gate.io/proof-of-reserves?ch=GM_mwpr500_20240530&amp;utm_campaign=TR_LdmKGtNE&amp;utm_content=&amp;utm_medium=Announcement&amp;utm_source=CH_l3hBY9KM&amp;utm_term=" target="_blank" rel="noopener noreferrer nofollow">PoR portal</a>. Users can independently verify that their accounts and deposits were reflected and access other related information.
Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Gate.io’s May 2024 Proof of Reserves Report Shows $6.49 Billion With 115.34% Ratio

TheNewsCrypto

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