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Gate pioneered the PoSEC fund security certification, with a cold storage coverage rate of 104.58%, enhancing security guarantees

According to the official announcement, Gate has officially launched a new Proof of Security (PoSEC), becoming the first digital asset trading platform in the industry to propose a PoSEC security certification system, extending security verification from reserve adequacy to asset storage structure and risk protection.According to Gate's official page, as of the snapshot on November 4 at 08:00 (UTC+8), the platform's cold storage coverage rate reached 104.58%, with cold storage and hot wallet asset ratios being 88.26% and 11.74%, respectively. This means that according to the corresponding statistical criteria, even if all hot wallet assets are lost, cold storage can still cover all user assets. Currently, this data is being verified by an independent third-party auditing agency, and the report will be published on the official website once completed.In 2020, Gate was the first to launch an open-source Proof of Reserves (PoR) related program, and has since continued to strengthen a multi-layered security system that includes mechanisms such as the separation of cold and hot wallets, multi-signature, multi-party secure computation (MPC), and dynamic risk monitoring. The introduction of PoSEC further extends the verification of fund security from reserve adequacy to storage safety and extreme risk coverage capability, providing a new practical path for establishing a more comprehensive and transparent fund security standard for the industry.

first_img eToro reached an agreement to acquire the Argentine financial application LB Finanzas

The Nasdaq-listed trading and investment platform eToro announced on November 4 that it has reached an agreement to acquire the Argentine comprehensive financial application LB Finanzas. The company stated that this acquisition will strengthen its presence in Latin America, with Argentina serving as a regional hub.LB Finanzas was founded in 2018 in Rosario and provides investment and account services within a single application for individuals and businesses, covering stocks, ETFs, crypto assets, and money market funds, as well as offering Argentine peso and US dollar accounts and payment solutions. The company has seen significant growth in user scale and trading volume, currently serving hundreds of thousands of users, regulated by the Argentine National Securities Commission and the Central Bank.eToro co-founder and CEO Yoni Assia stated: Both parties believe that everyone should have access to the tools and knowledge needed to grow wealth. By combining local expertise with eToro's global scale and products, we can advance faster and further in the region. LB Finanzas co-founder and CEO Camilo Cristia stated: For existing customers, current services will remain unchanged, and we will increase products and scale in the future. The transaction is subject to the completion of customary closing conditions and marks eToro's fourth acquisition in 2026; the company previously agreed to acquire the self-custody crypto wallet Zengo in April, acquired the Israeli crypto exchange Bit2C in May, and announced an agreement to acquire the US brokerage TradeZero in August.
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