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Gate.io in Trouble After Multichain CEO Arrested

By Yugocean | Crypto Champion | 2 Jun 2023


     Gate.io is a top platform in the crypto world, competing with Binance and Coinbase since the collapse of FTX. But recently, there has been a stir in the crypto world over the question of its liquidity.


Effect of Multichain

     Various crypto analysts have claimed that Gate is heavily invested in Multichain and that the massive drop in the value of the $MULTI token following the arrest of its CEO Zhaojun in Shanghai has created liquidity problems for Gate.


Gate.io called it a rumour.

     Calling it a rumour, Gate.io has appealed to its users not to believe it.
On its part, Gate.io has clarified that there is no issue with the operation of the platform, and withdrawals are also running smoothly. Apart from this, the credibility of providing 100% proof-of-reserve has also been cited.


Half reality, Half illusion

     A lot has been said about Gate in the crypto space; not everything can be true, but not everything can be just a rumour either. Some people think that the CEO of Multuchain, Zhaojun, is also the CEO of Gate, but this is not true; the CEO of Gate is Lin Han, and he has no information about the arrest.

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Yugocean
Yugocean

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Crypto Champion
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