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Gate.com

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From Wikipedia, the free encyclopedia

Gate.com
TypePrivate
IndustryCryptocurrency exchange, financial services, blockchain technology
Key peopleLin Han (Founder and CEO)
Websitewww.gate.com

Gate.com is a cryptocurrency exchange established in 2013.[1][2][3]

History

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Gate.com was founded in April 2013 by Lin Han. After China restricted cryptocurrency activity in September 2017, the company moved its operations abroad.[4][5]

In 2019, the company launched Gate SAFU, a reserve fund intended to insure user assets.[6] The following year, it introduced a Proof of Reserves system to let users verify platform collateral,[7] and partnered with cybersecurity firm Hacken.[8]

In September 2021, Gate.com launched its venture capital arm, Gate Ventures, with an initial $100 million fund for early-stage blockchain projects; a second $200 million fund followed in November 2022.[9]

Products and services

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Gate.com operates as a centralized exchange offering margin trading, perpetual futures,[10] and NFT products. Bloomberg estimated total assets held on the exchange at $1.88 billion in May 2023.[11]

Its native token, GateToken (GT), launched in August 2019 on the GateChain network and is used for transaction fees and platform functions.[11] The company also offers Gate Wallet, a non-custodial multi-chain wallet, and Gate Pay, a merchant payment settlement product.[12]

Regulatory status

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Gate Group operates through regional entities to comply with local requirements. In Europe, it holds a Class 4 Virtual Financial Assets (VFA) license from the Malta Financial Services Authority, along with VASP registrations in Lithuania and Italy.[13] In the Middle East, it holds a Dubai Multi Commodities Centre (DMCC) license for proprietary crypto trading.[14] In Hong Kong, subsidiary Hippo Financial Services Limited obtained a Trust and Company Service Provider (TCSP) license in 2022, leading to the launch of Gate.HK in May 2023.[15]

[edit]

Non-compliance with Chilean court orders

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In May 2023, the Chilean digital assets company Local Traders SpA was targeted in a cyberattack resulting in the loss of several hundred thousand dollars in cryptocurrency, which was subsequently traced to wallet addresses associated with Gate.com.[16] In response, the 8th Guarantee Court of Santiago issued four judicial orders targeting Gate.com including an official restitution order on 27 February 2025 requiring the return of the stolen assets to the victim. Gate.com failed to comply with the directives issued by the court.[17][18]

On 6 May 2026, Chile's Financial Market Commission (CMF) issued a public investor alert warning that Gate.com, and 12 affiliated entities including Gate Global UAB, Hippo Financial Services Limited, and Gate Technology FZE were not authorized or regulated to provide financial or investment services in Chile.[19][20] Following ongoing non-compliance with the 8th Guarantee Court's orders, Apple removed the Gate.com mobile application from the iOS App Store in Chile.[21]

Cross-border asset recovery efforts in Lithuania, the United Arab Emirates, and Panama faced procedural rejections due to jurisdictional limits and the absence of bilateral legal cooperation treaties regarding digital asset enforcement between Chile and those jurisdictions.[22]

References

[edit]
  1. ↑ "Top crypto exchanges by volume". Reuters. 9 November 2022. Retrieved 19 October 2023.
  2. ↑ Newbery, Emma (10 March 2022). "Gate.io Review: Pros, Cons, and More". The Motley Fool. Retrieved 15 June 2023.
  3. ↑ "Best Crypto Exchanges In 2026". Forbes Advisor. 1 May 2026. Retrieved 1 August 2026.
  4. ↑ Shen, Muyao (13 October 2021). "Crypto platforms Cobo, Gate.io leave mainland following China crypto ban". Forkast News. Retrieved 1 August 2026.
  5. ↑ "Digital asset exchange Gate.io taps Coinfirm for AML/CFT platform". FinTech Futures. Retrieved 3 August 2026.
  6. ↑ "Gate.io pledges USD 100 mln to support the crypto ecosystem". The Paypers. Retrieved 10 August 2023.
  7. ↑ "Gate.io Releases Proof Of 100% Collateral Transparency Of Users' Assets". Finyear. Retrieved 10 August 2023.
  8. ↑ "Global Digital Exchange, Gate.io Partners Hacken To Boost Its Fund Security Mechanism". Finyear (in French). 14 May 2020. Retrieved 3 August 2026.
  9. ↑ "Gate.io Launches Early-Stage Venture Fund Gate Ventures". Anue (in Chinese (Taiwan)). 13 September 2021. Retrieved 13 October 2023.
  10. ↑ "Investors use crypto exchanges to avoid Beijing's controls on AI stocks". 26 July 2026. Archived from the original on 26 July 2026. Retrieved 18 September 2026.
  11. 1 2 "Crypto Exchange Gate.io Rejects Rumors That Sank Related Token". Bloomberg News. 31 May 2023. Retrieved 15 June 2023.
  12. ↑ Writer, Verdict Staff (7 November 2022). "Crypto exchange Gate.io unveils new payment product". Electronic Payments International. Retrieved 13 October 2023.
  13. ↑ "Gate.io Group announced receiving the VFA Class 4 License in Malta". IBS Intelligence. Retrieved 13 October 2023.
  14. ↑ Steves, Rick (25 August 2022). "Gate.io Group Launches Dubai-Licensed OTC Crypto Block Trading". FinanceFeeds.
  15. ↑ "Gate.HK Officially Launches and Begins Operations in Hong Kong". FFNews. Retrieved 13 October 2023.
  16. ↑ "Un pakistaní, un chino y un millonario hackeo: el fraude de criptomonedas que investiga la Fiscalía". La Tercera (in Spanish). Retrieved 1 August 2026.
  17. ↑ Investiga, BBCL (11 May 2026). "Tres órdenes judiciales y ningún resultado: los gigantes del cripto que desafían a la justicia chilena". BioBioChile (in Spanish). Retrieved 1 August 2026.
  18. ↑ "Exchange desafía a la justicia de Chile por criptomonedas robadas". CriptoNoticias (in Spanish). Retrieved 1 August 2026.
  19. ↑ "CMF emite alerta sobre plataformas no reguladas" (in Spanish). Comisión para el Mercado Financeiro. 6 May 2026. Retrieved 1 August 2026.
  20. ↑ "500 millones congelados en Panamá: la trama tras hackeo de criptomonedas a empresario pakistaní". El Mostrador (in Spanish). 30 May 2026. Retrieved 1 August 2026.
  21. ↑ "Apple retira aplicación de Gate.io en Chile tras desacato judicial". BioBioChile (in Spanish). 11 May 2026. Retrieved 1 August 2026.
  22. ↑ "Gate.io y el conflicto judicial por $400,000". Observatorio Blockchain (in Spanish). 12 May 2026. Retrieved 1 August 2026.
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