Recent updates have surfaced about the total assets held by Gate.io, one of the long-established cryptocurrency exchanges.
Amid rumors of insolvency and a drop in GateToken (GT) prices, the exchange maintains a solid holding in Shiba Inu (SHIB), Bitcoin (BTC) and Ethereum (ETH).
Blockchain analytics firm Lookonchain has reported the details of Gate.io's asset holdings. Among a total of $1.44 billion held across six wallets, SHIB, the renowned meme coin, constitutes 4%, amounting to $52 million.
At the same time, Bitcoin and Ethereum, the two major players on the crypto market, represent 5% and 19% of the total assets, respectively.
Despite the market shake-up, Gate.io has firmly denied bankruptcy rumors. The platform assures its users of the continued efficiency and health of its operations.Gate.io claims that its primary focus remains its ongoing 10th-anniversary celebrations and the launch of its latest trading platform, Gate.HK.
The popular exchange has been impacted by events concerning Multichain. Rumors of the Multichain team's arrest in Shanghai led to significant fund movement by large MULTI token holders, which caused a substantial fall in its price.
Despite these events, Gate.io claims that it is committed to providing secure, quick and reliable crypto trading services, while ensuring user security remains steadfast.