Gate.io Dismisses Rumors of Operations Impact, Asserts Unaffected Performance Amid Rumors
In the midst of swirling rumors, Gate.io has taken the initiative to address concerns and clarify the situation. The platform’s users were recently alarmed by speculations regarding Gate.io’s operations and withdrawals. However, Gate.io swiftly responded, assuring its users that all operations and withdrawals are running smoothly, dispelling any doubts about the platform’s functionality.
Gate.io, a well-established exchange known for its secure and efficient trading services, emphasized its commitment to providing a reliable platform for digital asset trading. As a pioneer in the industry, Gate.io takes pride in being the world’s first exchange to offer a 100% proof-of-reserve. Recently, the platform celebrated its 10th anniversary, a significant milestone that was marked with gratitude towards its users.
To express their appreciation, Gate.io has organized a series of user campaigns. These initiatives not only serve as a testament to Gate.io’s growth over the past decade but also highlight the platform’s dedication to expanding its global presence while maintaining strong compliance processes. As part of its strategic layout, Gate Group has successfully launched Gate.HK, a trading platform in Hong Kong that aims to provide an exceptional trading experience for virtual asset investors in the region.
It is worth noting that Gate.io has taken the opportunity to caution its users against potential scams. The exchange has made it clear that they will not contact users proactively through phone calls, text messages, emails, or any other means. Users are advised to exercise caution and avoid providing personal information or funds to anyone claiming to represent Gate.io. In case of any questions or inquiries, users are encouraged to contact the official website’s online customer service.
In light of recent developments, Gate.io faced a net outflow of US$130 million within the past 24 hours. This amount accounts for approximately 10% of its net reserve assets, excluding GT, which stands at US$1.26 billion. However, Gate.io’s response emphasized that despite this net outflow, all operations and withdrawals are functioning normally, assuaging concerns about the platform’s stability.
Due to community rumors being investigated by the police, Gate had a net outflow of US$130 million in the past 24 hours, accounting for about 10% of its net reserve assets of US$1.26 billion (excluding GT). Gate responded that all operations and withdrawals are normal.…
— Wu Blockchain (@WuBlockchain) June 1, 2023
The rumors surrounding Gate.io gained traction partly due to market activity and other events. Notably, Coinsumption, a Twitter account with a substantial following, suggested on May 31 that Gate.io was facing insolvency problems and advised users to withdraw their funds. However, Gate.io’s swift response and clarification serve to dispel these unfounded claims and assure users of the platform’s continued integrity.
In a separate but unrelated incident, Multichain, another project in the digital asset space, is currently experiencing issues. The team members have reported their inability to contact the project’s CEO or access project servers. Multichain has also faced transaction delays over the past few days. It is important to note that these issues are specific to Multichain and are not related to Gate.io’s operations or performance.
Gate.io’s native token, GT, has reportedly been affected by circulating rumors, resulting in a 8.5% decrease in value over a 24-hour period. In contrast, Bitcoin only experienced a 2.4% decline during the same timeframe.
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