Gate.io’s May 2024 Proof of Reserves Report Shows $6.49 Billion with 115.34% Ratio
May 30th, Panama – 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.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
More articles
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
