Gate exchange allocates $100 million to support institutional clients

Market makers, institutions, and individuals with high incomes will be able to get up to $10 million in cryptocurrency from the platform

06.12.2022 - 15:00

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What’s new? Cryptocurrency exchange Gate announced a $100 million industry fund. The primary goal of the initiative is to support liquidity for market makers, trading institutions, listing projects, and other institutional clients and high-net-worth individuals. The news is posted on the platform’s official website.

News on the Gate website

Details about the initiative. The fund will provide funding according to the needs of clients. The maximum amount of support will be up to $10 million in tokens. The funds can be used for trading or market-making on Gate’s spot and futures markets, as well as for independent use subject to risk controls. In addition, representatives of the exchange said that there are currently no deadlines, and the amount of funding can be increased at any time depending on market conditions.

Gate exchange is among the top 3 in terms of trading volume on the spot market. It has more than 12 million users worldwide. The platform has 1529 crypto assets available and has processed orders for $629,5 million in the last 24 hours.

Earlier, a similar initiative was reported by the ByBit crypto exchange. The platform announced the creation of a support fund, where institutions and market makers can receive up to $10 million. The measure is aimed at helping the crypto industry, which is experiencing problems after the collapse of the FTX crypto exchange.

For more details on how FTX’s crash affected the crypto market, read GetBlock Magazine’s article.

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