[CoinDesk] Gate CEO says crypto exchanges must prove they can survive a hack like Binance’s

Gate CEO Lin Han said exchanges must demonstrate they can withstand a major hack, citing Binance’s recent incident as a stress test for the industry. Han said Gate keeps enough assets in cold storage to cover all customer balances even if its hot wallets are fully drained. The exchange has commissioned an independent audit of its reserves, though no figures for total holdings or liabilities were disclosed. The comments come as exchanges face mounting pressure to prove solvency through proof-of-reserves disclosures following FTX’s collapse. Watch for the audit results and whether Gate publishes verifiable on-chain reserve data.