Coinbase, Gate disclose cold storage ratios after Binance attack
In short
Coinbase said it keeps more than 99% of customer assets offline, and Gate said 88.26% of its total assets are in cold storage.
These numbers were shared after the Binance attack. The exchanges are trying to show that customer money is stored more safely.
What the reporting says
Coinbase said it keeps more than 99% of customer assets offline, and Gate reported 88.26% of its total assets are in cold storage, following the Binance attack, according to a Cointelegraph summary. The disclosures were presented as proof of stronger asset security by exchanges.
Why it matters
Coinbase and Gate disclosed their cold storage levels after the Binance attack, with Coinbase saying more than 99% of customer assets are offline and Gate saying 88.26% of total assets are in cold storage. The figures are meant to reassure users about security. The source does not add confirmation of the attack details or explain whether the disclosures changed trading or withdrawals.