Back to news
Safety
Gate.io Reports 104% Cold Reserve Coverage but Snapshot Date Discrepancies Draw Scrutiny
(3 hours ago) · 1 source · Summarized by CryptoBipto
Cryptocurrency exchange Gate.io has published a proof-of-reserves report claiming 104% cold reserve coverage of user assets. However, observers have noted that the snapshot dates for assets and liabilities do not match, raising questions about the reliability of the reported figures.
WHY IT MATTERS
When you deposit cryptocurrency on an exchange, the exchange takes custody of your funds — similar to how a bank holds your money.
Read the full analysis with a CryptoBipto membership
Members read why every story matters and the full analysis behind it.
SOURCES
- cryptoslate.com
RELATED
Proof of ReservesExchange TransparencyCrypto CustodyCentralized Exchanges
Learn the concepts behind this
Clear explanations of the subjects this article touches, with every term defined.