Gate.io Says Its Withdrawals Are 'Functioning Properly' in Response to Rumors

In response to recent rumors that Gate.io is insolvent, the exchange released a statement, saying "our operations are running healthily, withdrawals are functioning properly, and there are no issues with our operations or withdrawals as rumored."

Currently, the Gate.io team is focusing on the exchange's 10th-anniversary celebration and the launch of Gate Group's Hong Kong trading platform, Gate.HK.

Recently, some Twitter users found that Multichain team members transferred a large amount of $FTM to Gate.io, and suspected that the exchange was related to Multichain's trouble.

According to DefiLlama's data, the 24H net outflows from Gate.io were close to $165.4 million. Currently, the exchange holds around $1.65 billion worth of assets.

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.