Gate.io’s Proof of Reserves Report Reveals $4.3B in Assets with 115% Reserve Ratio for 171 Assets
Jan. 24th, Panama – Gate.io, a leading crypto exchange and Web3 innovator, has released its January 2024 Proof of Reserves (PoR), verifiably demonstrating $4.3 billion in total held assets with a ratio of 115.47%, representing over $584 million retained in excess of user deposits. The latest report also demonstrates an increase of $1.1 billion in value since the previous report this past November and marks the fourth year Gate.io has produced user-verifiable PoR.
Gate.io’s newest report covers more than 171 digital assets, the most of any exchange. An additional 59 assets have been included since the previous report, 26 of which are BRC-20 tokens, including SATS, ORDI, MUBI, TRAC, NALS, PIZA (PIZABRC), PEPE (PEPEBRC), and others. Each of the 171 assets is reported to have a reserve ratio of ≥100%. Additional key data from the report includes:
Dr. Lin Han, Founder and CEO of Gate.io, said: “Transparency matters for individuals and industry integrity. It ensures users can safely and confidently participate in the market and promotes best practices among exchanges. We will continually respond to input from users, external experts, and peers to ensure security, privacy, and transparency in our reserves reporting.”
Late last year, Gate.io introduced significant zero-knowledge verifiability and privacy upgrades to its PoR, expanded the list of reflected assets, and committed to more regular reporting. A January audit by the renowned blockchain security firm Hacken praised the new method as “a testament to a strong foundation in cryptographic implementation,” finding that it contributes “significantly to the field.”
Gate.io has been conducting PoR since 2020 when it became one of the first to produce third-party audited,
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