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(Redirected from GATE.io) Cayman Islands-based cryptocurrency exchange
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Gate.io
Company typePrivate
IndustryCryptocurrency
FoundedApril 2013; 11 years ago (April 2013)
FoundersLin Han
HeadquartersCayman Islands
Area servedWorldwide
ProductsCryptocurrency exchange, cryptocurrencies
SubsidiariesGATE.hk (Hong Kong)
Websitegate.io

Gate.io is a Cayman Islands-based cryptocurrency exchange and blockchain platform established in 2013. According to Bloomberg and Reuters it is ranked among the top most worldwide for the trading volume.

As of May 2023, GATE.io's total exchange assets were $1.88 billion according to Bloomberg.

History

GATE.io was founded by Lin Han in April 2013 in China. In 2019, the livestream platform, GATE.io Live, the GATE SAFU fund and were launched.

In 2020, GATE.io released its Proof-of-Reserves, a technical method for users to check their collateral, including their total assets on the platform.

GATE.io passed the Trusted Volume Test by Coin Metrics in July 2020. In September 2021, the venture capital arm of GATE.io, Gate Ventures, was established. In its initial stages, Gate Ventures launched a fund worth $100 million. Gate Ventures later launched another fund worth $200 million in November 2022.

In October 2022, GATE.io and the City of Busan started setting up and managing the Busan Digital Asset Exchange. In March 2023, GATE.io has partnered with Visa to launch a crypto card for the European Economic Area countries.

In 2023 GATE.io partnered with Coinfirm, a platform for real-time anti-money laundering (AML) and combating the financing of terrorism (CFT). In February 2023, according to India Today, Gate Group, the parent company of Gate.io, applied for a new cryptocurrency license in Hong Kong, aiming to launch 'Gate HK' for the local market.

Incidents

In 2022, Okaz, a Saudi Arabian daily newspaper, and state-owned broadcaster Al Arabiya reported that hackers compromised exchange's official Twitter account, redirecting over a million users to a fraudulent website through a scam Tether (USDT) giveaway and changed a website address to: "gąte.com". Also, in 2022 Gate.io experienced net outflows over $140 million amidst the speculations on its liquidity health.

In October 2022, Crypto.com accidentally sent about 80% of its ethereal capital (about 400 million dollars) to Gate.io. The company recognized the mistake only after it was exposed. Gate.io started returning the funds once it recognized the transfer a mistake.

In May 2023, Gate.io publicly refuted rumors of financial instability amidst social media speculation.

In January 2024, Google pulled out GATE.io's app with Binance and eight other major crypto exchanges because of Indian anti-crypto legislation.

Review

Business Insider gave the exchange a rating of 3.71 out of 5. Meanwhile, The Motley Fool described the exchange as fitting for experienced traders, while also highlighting its high deposit fees as a drawback. Fortune India names Gate exchange among top-8 worldwide, amongst Binance, Huobi, and others. AlJazeera named GATE.io among the top-7 most popular crypto-exchanges globally.

Overview

The company expanded in the Middle East by acquiring a Dubai Multi Commodities Center license for crypto trading in the UAE and launching the "Turkey Portal" for cryptocurrency traders in Turkey.

GATE.io has its own GateChain, a decentralized ecosystem for digital assets. In August 2019, GATE.io launched its trading token called GateToken (GT).

In 2021, GateChain mainnet announced that it officially supports Ethereum Virtual Machine (EVM). In November 2022, Gate.io launched its crypto-based payment service called Gate Pay.

References

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  2. "Best Crypto Apps & Exchanges Of June 2023 – Forbes Advisor". www.forbes.com. Retrieved 2024-03-25.
  3. ^ Nicolle, Emily (November 13, 2022). "Crypto.com Recovers $400 Million After Misplaced Ether Transfer". www.bloomberg.com. Retrieved 2024-03-25.
  4. "Top crypto exchanges by volume". Reuters. Retrieved 2024-03-25.
  5. ^ سناجلة, محمد. "أشهر 7 منصات لتداول العملات المشفرة للمبتدئين". الجزيرة نت (in Arabic). Retrieved 2024-03-25.
  6. "News Nuggets | 25 May: GATE.io in Hong Kong; CFI's New Office". Financial and Business News | Finance Magnates. 2023-05-25. Retrieved 2023-06-30.
  7. Joe, Kiwi (2022-09-20). Cryptocurrency Remote Viewed Book Seven: Your Guide to Identifying Tomorrow's Top Cryptocurrencies Today. Gerard O’Neill Books.
  8. "Digital asset exchange GATE.io taps Coinfirm for AML/CFT platform". 13 February 2023.
  9. Steves, Rick (7 February 2023). "GATE.IO TAPS COINFIRM FOR AML/CFT COMPLIANCE AMID LICENSES IN THE US, EUROPE, HONG KONG".
  10. Walker, Mark (2019-10-27). "GATE.io Launches In-App Live Streaming Service To Support Real-Time Interaction With Users". The Fintech Times. Retrieved 2024-03-25.
  11. "GATE.io pledges USD 100 mln to support the crypto ecosystem". thepaypers.com. Retrieved 2023-08-10.
  12. Andreou, Giannis (2022-11-14). THE BIBLE OF CRYPTOCURRENCY, WEB 3.0, NFTs & DeFi: The Ultimate Path For Blockchain, Cryptocurrencies, WEB 3.0, NFTs and DeFi, For Comprehensive Understanding. Giannis Andreou.
  13. "GATE.io全项通过Coin Metrics交易量可信度测试". 世链财经 (in Chinese (China)). Retrieved 2024-03-25.
  14. "GATE.Io 承诺投入 1 亿美元重振加密货币，恢复投资者信心_基金_io_流动性". news.sohu.com. Retrieved 2024-03-25.
  15. "GATE.io 啓動早期加密風投基金 GATE Ventures | Anue鉅亨 - 快訊". Anue鉅亨 (in Chinese (Taiwan)). 2021-09-13. Retrieved 2024-03-25.
  16. "Blockchain: GATE.io joins Binance, FTX crypto firms in helping Busan build its blockchain framework". EconoTimes. 2022-10-28. Retrieved 2024-03-25.
  17. "GATE.IO LAUNCHES VISA-BACKED CRYPTO DEBIT CARD". 9 March 2023.
  18. "Digital asset exchange GATE.io taps Coinfirm for AML/CFT platform". 13 February 2023.
  19. "GATE.IO TAPS COINFIRM FOR AML/CFT COMPLIANCE AMID LICENSES IN THE US, EUROPE, HONG KONG". 7 February 2023.
  20. "Gate.io Group Enters Hong Kong With Compliant, Secure, And Comprehensive Custody Services". Reuters.
  21. "Gate.io to make its debut in Hong Kong, Govt to inject $6.4M into city's Web3 space". India Today. 23 February 2023. Retrieved 2024-03-25.
  22. «عكاظ» (جدة) (2022-10-23). "هدايا خادعة.. مستخدمون يتعرضون للخطر إثر اختراق "تويتر"". Okaz (in Arabic). Retrieved 2024-03-25.
  23. "برمجية خبيثة لسرقة البيتكوين تطال أكثر من 600 ألف موقع". Al Arabiya.
  24. Olga, Olga (1 June 2023). "Crypto Exchange Gate.io Dismisses Conjecture; Sees Outflows". www.bloomberg.com. Retrieved 2024-03-25.
  25. "על רקע קריסת FTX: משקיעי Crypto.com חוששים לכספם | כלכליסט". calcalist (in Hebrew). 2022-11-16. Retrieved 2024-03-25.
  26. Roth, Emma (2022-11-13). "Crypto.com sent $400 million to the wrong recipient, but got it back this time". The Verge. Retrieved 2024-03-25.
  27. "Gate.io faces allegation against illiquidity issues". Financialexpress. 2023-06-01. Retrieved 2024-03-25.
  28. "Google Pulls Binance, 8 Other Crypto Apps From India Play Store". news.abplive.com. 2024-01-14. Retrieved 2024-03-25.
  29. Houston, Rickie; Campbell, Tessa. "Gate.io Review 2024". Business Insider. Retrieved 2024-03-25.
  30. Newbery, Emma (2022-03-10). "Gate.io Review: Pros, Cons, and More | The Motley Fool". www.fool.com. Retrieved 2024-03-25.
  31. "Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp among 9 offshore crypto cos banned by FinMin". www.fortuneindia.com. 2023-12-09. Retrieved 2024-03-25.
  32. sina_mobile (2019-04-08). "迟到一年 GATE发币". k.sina.cn. Retrieved 2024-03-25.
  33. 网易 (2021-04-20). "GATE.io芝麻开门8周年：守正出新，开启全能交易时代". www.163.com. Retrieved 2024-03-25.
  34. "What is GATE Token (GT)? - Skrumble". 2023-07-22. Retrieved 2024-03-25.
  35. Andreou, Giannis (2022-11-14). THE BIBLE OF CRYPTOCURRENCY, WEB 3.0, NFTs & DeFi: The Ultimate Path For Blockchain, Cryptocurrencies, WEB 3.0, NFTs and DeFi, For Comprehensive Understanding. Giannis Andreou.
  36. 宋 家雨, 发布于. "GATE.io芝麻开门EVM智能链上线 ，能否用生态优势杀出重围？". Doit.
  37. Writer, Verdict Staff (2022-11-07). "Crypto exchange GATE.io unveils new payment product". Electronic Payments International. Retrieved 2024-03-25.
  38. "GATE.io Launches its Crypto Payment Product, GATE Pay". ffnews.com. 7 November 2022. Retrieved 2024-03-25.
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