Gate Proof of Reserves Shows XRP Overcollateralized at 115%
- —Gate holds 60.4M XRP against 52.5M in customer balances, a 115% ratio
- —Overall reserve ratio rose to 118.49% from 117.26% in the prior period
- —BTC reserves: 25,727 versus 21,156 customer-held, a 121.6% ratio
- —ETH reserves: 449,042 versus 362,785 customer-held, a 123.78% ratio
Why it matters: The report shows Gate holds over $1.3 billion above liabilities, reducing the risk of a liquidity shortfall during mass withdrawals.
Source: Cryptonews.net