Gate.io, a prominent cryptocurrency exchange and Web3 pioneer, has released its Proof of Reserves (PoR) report for May 2024, showcasing a transparent reserve-deposit ratio of 115.34% and a total reserve value of $6.49 billion (USD) at the time of the report's completion.

This latest report encompasses more than 209 digital assets, marking a 20 asset increase from the previous report, solidifying its status as the most comprehensive among exchanges. Key highlights from the report include:

- Total Reserves on Gate.io: $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 among the earliest exchanges to embrace PoR back in 2020 and has continuously enhanced its reporting methodologies since then. Its PoR approach, audited and commended by the prominent blockchain security firm Hacken, has been made open-source to foster industry involvement. Recent upgrades such as heightened reporting frequency, expanded asset coverage, and the implementation of zero-knowledge technology for improved privacy and security underscore the exchange's dedication to meticulous reporting and transparency.

Dr. Lin Han, Founder and CEO of Gate.io, expressed satisfaction with the publication of the May 2024 Proof of Reserves report, reaffirming the platform's steadfast commitment to transparency and accountability. The ongoing efforts to maintain a robust reserve-deposit ratio and elevate reporting standards aim to bolster user and industry confidence in Gate.io's security measures.

Gate.io users can access the May 2024 reserves report via its PoR portal to independently verify the reflection of their accounts and deposits, along with accessing other relevant information.