Gate Says Reserves Reach $8.688 Billion, Coverage Ratio Nears 120%
Summary
- Gate said it holds total reserves of $8.688 billion.
- The reserve ratio against customer assets stood at 118.49%.
- Reserve ratios for Bitcoin, Ether and stablecoins ranged from 116.59% to 123.78%.
Forecast Trend Report by Period
Global cryptocurrency exchange Gate said it holds nearly $8.7 billion in reserves.
Odaily reported on Oct. 21 that Gate released a proof-of-reserves report the same day showing total reserves of $8.688 billion. The report covers 500 cryptocurrencies held by the exchange as of Oct. 18.
The reserve ratio against customer assets stood at 118.49%. For Bitcoin, customer holdings totaled 21,156 BTC, while the exchange held 25,727 BTC in reserves. The Bitcoin reserve ratio rose to 121.6% from 120.32%.
For Ether, customer holdings were 362,785 ETH and the exchange held 449,042 ETH in reserves. The reserve ratio edged up to 123.78% from 123.59%.
Customer holdings of stablecoins including Tether's USDT and Circle's USDC totaled $1.497 billion on Gate. The exchange held $1.746 billion in stablecoin reserves, for a reserve ratio of 116.59%.
