tl;dr
Gate.io, a prominent crypto exchange and Web3 innovator, has released its May 2024 Proof of Reserves (PoR) report, revealing a reserve-deposit ratio of 115.34% and total reserves valued at $6.49 billion USD. The report covers over 209 digital assets, an increase of 20 from the previous report, estab...
Gate.io, a prominent crypto exchange and Web3 innovator, has released its May 2024 Proof of Reserves (PoR) report, revealing a reserve-deposit ratio of 115.34% and total reserves valued at $6.49 billion USD. The report covers over 209 digital assets, an increase of 20 from the previous report, establishing Gate.io as the most comprehensive exchange in this regard. Notable data includes Gate.io's total reserves of $6,492,214,095, excess reserves of $863,807,685, and specific reserve-deposit ratios for BTC, ETH, USDT, and USDC.
Gate.io, an early adopter of PoR in 2020, has continuously improved its reporting practices and made its PoR method open-source, endorsed by blockchain security firm Hacken. Recent enhancements include increased reporting frequency, wider coverage, and the implementation of zero-knowledge tech for enhanced privacy and security. Gate.io's commitment to transparency and accountability is emphasized by CEO Dr. Lin Han, and the May 2024 reserves report is accessible on its PoR portal for independent verification by users.
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.