Gate.io, a prominent cryptocurrency exchange and pioneer in Web3 technology, has released its 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 evaluation.

The comprehensive report includes data on more than 209 digital assets, marking an increase of 20 from the previous report and solidifying Gate.io's position as the exchange with the most extensive coverage. In addition to the total reserve value of $6.49 billion, the report also highlights key figures such as the amount of excess reserves, which stands at $863,807,685, and the reserve-deposit ratios for popular cryptocurrencies like BTC, ETH, USDT, and USDC.

Gate.io has been a trailblazer in embracing PoR since 2020 and has continuously improved its reporting practices over the years. The exchange's PoR methodology, audited and commended by the renowned blockchain security firm Hacken, has been made open-source to encourage greater industry involvement. Recent enhancements in reporting frequency, asset coverage, and the adoption of zero-knowledge technology for enhanced privacy and security underscore Gate.io's commitment to transparent and meticulous reporting standards.

Dr. Lin Han, the Founder and CEO of Gate.io, expressed satisfaction in sharing the May 2024 Proof of Reserves report, emphasizing the company's unyielding dedication to transparency and accountability. By maintaining a robust reserve-deposit ratio and elevating reporting standards, Gate.io aims to bolster the security and trust of its users and the broader cryptocurrency community.

Interested parties can access Gate.io's May 2024 reserves report through its dedicated PoR portal, allowing users to independently verify the accuracy of their accounts and deposits. The exchange's proactive approach towards transparency not only instills confidence in its user base but also sets a benchmark for industry best practices. With a commitment to continual improvement and excellence, Gate.io remains at the forefront of promoting trust and reliability in the crypto sector.