Gate Reserves Reach $8.688 Billion With 118.49% Coverage

Gate, a cryptocurrency exchange, held $8.688 billion in reserves as of Oct. 18, giving it 118.49% coverage of customer balances in its latest proof-of-reserves snapshot. Total reserves rose 5.7% from the previous period. The snapshot covered 500 cryptocurrencies. A coverage ratio above 100% means the exchange held more in reserves than the customer balances measured in the snapshot. For Bitcoin (BTC), Gate held 25,727 coins against 21,156 in customer accounts. Bitcoin coverage rose to 121.60% from 120.32%. Ether (ETH) reserves totaled 449,042 coins against customer holdings of 362,785, lifting coverage to 123.78% from 123.59%.