Users of the crypto exchange Gate. io are facing slow deposits and withdrawals on transactions due to a node maintenance from a third-party cloud provider, according to an announcement on Dec. 18. Gate. io said the transactions are still being processed, and claimed the funds of users are safe. The company stated:

Gate.io, the cryptocurrency trading platform, has launched a $100 million industry liquidity support fund to help revive the crypto industry.

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Throughout Q3 2022, Gate.io Group, the parent company of crypto exchange Gate.io, revealed its global expansion progress in several key crypto regions such as Dubai, Lithuania, and Turkey.Recently announced in a keynote at Istanbul Blockchain Week 2022, Gate.io and its Turkey-based counterpart Gate Turkey unveiled GateTR, a new crypto exchange tailored to serve Turkey's growing crypto market.

Following another major crypto exchange collapse, user concerns around the solvency, security, and stability of crypto exchanges have reignited, leading to discussions regarding exchange reserves. As a result, attention has shifted toward crypto exchanges such as Gate.io, the first to provide a Proof of Reserves audit with Merkle Tree verification.

Gate.io, a cryptocurrency trading company, is set to launch a new cryptocurrency exchange, GateTR, tailored to Turkey’s cryptocurrency market. The new platform was developed by the firm’s team over the last six months, Gate.io said.

Prominent crypto exchanges Kraken, Coinbase and Gate.io became the first exchanges to publish proof-of-reserves, including liabilities, as part of their audits.

Twitter user revealed that&nbsp;<a href="https://t.co/dwRH3YcIjT" target="_blank">Crypto.com</a>&nbsp;sent 320k ETH of user deposits to Gate.io on Oct 21st. Gate.io shows "proof of reserves" &amp; then sends 285,000 ETH back on&nbsp;Oct 28th.

US-based Gate. io, one of the largest crypto exchanges in operation, is set to branch out into the payments sector. Gate Pay has been launched on the back of the belief among Gate. io executives that crypto can become widely adopted means of payment rather than just a tradeable asset.