Dear Gate Community,
We are thrilled to share our latest report with you. Our May 2024 Proof of Reserves report has transparently and verifiably demonstrated a reserve-deposit ratio of 115.34% and a total reserve value of $6.49 billion (USD). This means that Gate holds over $860 million in excess of user deposits, underscoring our commitment to your security and trust.
For this report, we've increased the coverage to 209 digital assets, which is still the most extensive of any exchange. You can check out the report on our Proof of Reserves portal, where we encourage you to independently verify that your account balance was reflected. Nonetheless, here's some key data from the report:
Gate Reserves: $6,492,214,095
User Deposits: $5,628,406,410
Excess Reserves: $863,807,685
Reserve-Deposit Ratio: 115.34%
BTC: 116.55%
ETH: 113.43%
USDT: 105.47%
USDC: 102.65%
At Gate, we are committed to transparency and accountability. Since launching our Proof of Reserves program in 2020- and becoming one of the first to do so- we have consistently worked to improve our reporting methods. Our most recent enhancements include continued expansion of coverage, more regular reporting, and enhanced security and privacy by implementing zero-knowledge proofs.
Furthermore, the leading blockchain security firm Hacken has audited and praised our Proof of Reserves method, which is open-source to encourage industry participation. You can view the full audit report here.
We welcome users to independently verify the report on our Proof of Reserves portal and view other important details. Your security and confidence are our top priorities, and we are dedicated to ensuring transparency and accountability for our users and the industry as a whole.
Thank you for your trust and support in Gate.
The Gate Team
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Gate Team
May 29th, 2024
