Tag: Gate.io
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Another Regulatory Warning Against Crypto Exchange Gate.io and ClavisChain!
A few weeks ago, we put the crypto exchange Gate.io on our Orange Compliance List due to obvious regulatory problems, and recently, the Austrian Financial Market Authority FMA issued a warning against ClavisChain and in this context also against Gate.io. The FMA failed to provide further explanations in its investor warning. ClavisChain looks like a clone of Gate.io. We advise all traders to exercise extreme caution with ClavisChain and Gate.
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Gate.io Crypto Scheme Received An Orange Compliance Rating!
The Gate.io crypto exchange has been active for many years. It was founded in Hong Kong by Lin Han in 2017. The website does not provide any information about the regulations. One can only send a request via email. In December 2021, the Italian Consob blocked the website, and in February 2022, the Spanish CNMV issued a warning. We have added Gate.io to our Red Compliance list. Here is the compliance check.
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Attention! More Crypto Exchanges Seem To Have Serious Liquidity Issues.
The collapse of Sam Bankman-Fried's FTX, the world's third-largest crypto exchange, is being discussed in minute detail on Twitter. Most recently, various tweets warned that other crypto exchanges were transferring funds to each other to be able to show their reserves. In other words, the reserves are missing and can only be represented with such tricks. Binance founder and CEO Changpeng Zhao issued a warning.
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The Disastrous Trustpilot Ratings Of Crypto Exchanges And The Exceptions CEX, Oobit, And BitPanda!
The well-known crypto exchanges like Coinbase, Binance, Crypto.com, or FTX seem to have a problem with their customers. On Trustpilot, most of the top crypto exchanges have scam ratings with customers complaining about unfounded blocked accounts and problems with customer service. Exceptions are CEX.io, Oobit, or BitPanda, which stand out like a lighthouse on Trustpilot. With 4.7-stars and 4.1-stars respectively, CEX.io and BitPanda apparently perform incredibly better than their international competitors.
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Attention! Spanish regulator warns against crypto exchange Gate.io
Forbes Advisor named Gate.io as one of the 10 best crypto exchanges in February 2022, awarding it a 4.5-star rating. This puts Gate.io ahead of the better-known and regulated Bitstamp. Operated by Gate Technology Corp in the Marshall Islands, the crypto exchange proudly displays this nomination on its website. However, regulators currently have no tolerance for unregulated crypto exchanges. The Spanish CNMV has therefore issued an investor warning against the unregulated offshore crypto exchange Gate.io. Be careful when trading with unregulated crypto exchanges.