Gate, a world-leading cryptocurrency exchange, successfully concluded its 12th Anniversary Global Celebration in Dubai. The two-day series of events gathered investors, blockchain entrepreneurs, and industry leaders from around the world, injecting fresh energy and ideas into the Web3 space.
Gate has released its latest Proof of Reserves report. As of May 8, the total value of Gate's reserves stands at $10.865 billion, with a total reserve ratio of 128.57% and an excess reserve of $2.415 billion.
Gate Group announced that its subsidiary, Gate Technology FZE—also known as Gate Dubai—has obtained a Virtual Asset Service Provider (VASP) license. This license, granted under the regulation and supervision of the Dubai Virtual Assets Regulatory Authority (VARA), allows Gate Dubai to offer exchange services and cater to institutional investors, qualified investors, and retail investors.