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

General

Gate.io,
a
leading
crypto
exchange
and
Web3
innovator,
has
published
its

May
2024
Proof
of
Reserves
(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
exchange.
Other
key
data
from
the
report
include:

Gate.io
Total
Reserves: $6,492,214,095

Excess
Reserves: $863,807,685

Reserve-Deposit
Ratio: 115.34%

BTC: 116.55%

ETH: 113.43%

USDT: 105.47%

USDC:
102.65%

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,

audited
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.

“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.

Gate.io’s
May
2024
reserves
report
is
available
on
its

PoR
portal.
Users
can
independently
verify
that
their
accounts
and
deposits
were
reflected
and
access
other
related
information.