Exchange Gate has published its latest Proof of Reserves report, showing a total reserve ratio of 117% across nearly 500 user assets. A reserve ratio above 100% indicates the exchange holds more in verified reserves than it owes users across the assets covered by the report.
The report lists 26,775 BTC and 456,798 ETH among the exchange's holdings, alongside $1.59 billion in stablecoin reserves backing user assets. Gate said the stablecoin reserves include holdings of USDT, USDC and USD1, among others.
Why Proof of Reserves Reports Matter
Proof of Reserves reports have become a standard transparency measure across the exchange industry since a wave of high-profile collapses exposed how opaque some platforms' balance sheets had been. By publishing specific holdings figures for major assets like BTC and ETH alongside its aggregate stablecoin reserves, Gate is giving users a way to independently gauge whether the exchange's on-chain holdings plausibly match what it owes its customer base.
An overcollateralization ratio of 117% suggests Gate is holding a buffer above what it strictly owes users on the assets tracked in the report, though the figure reflects a snapshot rather than a continuously updated guarantee, and covers only the specific assets included in the disclosure.
