Gate.io Publishes May 2024 Proof of Reserves Report 📊
Gate.io, a prominent crypto exchange and Web3 pioneer, has released its latest May 2024 Proof of Reserves (PoR) report, showcasing a reserve-deposit ratio of 115.34% and a total reserve value of $6.49 billion at the time of assessment.
Key Highlights from the Report 🌟
- Over 209 digital assets covered in the report
- Reserve value of $6,492,214,095
- Excess reserves totaling $863,807,685
- Reserve-deposit ratio of 115.34%
- BTC reserve at 116.55%
- ETH reserve at 113.43%
- USDT reserve at 105.47%
- USDC reserve at 102.65%
Gate.io has been a pioneer in adopting PoR since 2020 and has continuously improved its reporting practices over the years. The exchange’s PoR methodology, audited by leading cybersecurity firm Hacken and released as open-source, aims to promote industry-wide participation in transparent reporting.
Recent enhancements in reporting frequency, asset coverage, and the integration of zero-knowledge technology for enhanced privacy and security reflect Gate.io’s commitment to transparency and user security.
“We are proud to release our May 2024 Proof of Reserves report, reaffirming our commitment to transparency and accountability. By maintaining a robust reserve-deposit ratio and expanding our reporting standards, we aim to ensure the safety and trust of our users and the broader industry,” stated Gate.io Founder and CEO Dr. Lin Han.
Gate.io’s May 2024 reserves report can be accessed via its PoR portal for independent verification and review of account balances and related information.
Hot Take: Gate.io Promotes Transparency and Accountability in Crypto 🌐
Gate.io remains at the forefront of the crypto industry by prioritizing transparency and security through its consistent adherence to rigorous reporting standards. As one of the first exchanges to embrace PoR, Gate.io sets a standard for integrity and trust in the digital asset space, establishing itself as a reliable platform for users worldwide.
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