Gate and FTX in 2022 are simply not on the same level in terms of overall scale, industry standing, and market influence. At its peak, FTX even surpassed Binance in some aspects and was widely recognized as the #2 top-tier exchange at the time. On the other hand, FTX's death spiral was due to misappropriation of customer assets, leaving an $8 billion hole on the liability side—essentially insolvent, with no way for the parties involved to resolve it. Gate's situation, however, is just a trust crisis triggered by a single account being hacked, involving only $1.7 million. The main point of contention is about risk control responsibility—this is something the parties involved can resolve: if it's confirmed to be Gate's responsibility, they just need to admit fault and compensate, and that's that. I saw that in the 7 days following the "hack" incident, Gate recorded a net outflow of $207 million, ranking #2 on the CEX net outflow list according to DeFiLlama data. Gate's proof of reserves from January this year showed total reserves of $9.478 billion, with an overall coverage ratio of 125%. So, a $200 million outflow only accounts for about 2% of the total reserves. Although I personally don’t have funds on Gate and haven’t done any withdrawal tests, I feel that with the current outflow volume, it shouldn’t lead to a bank run, right? (Has anyone experienced issues withdrawing?) Worst-case scenario, even if it does collapse, given Gate’s current scale, it definitely wouldn’t cause a crash on the level of what happened in 2022. No need to worry, folks. #Crypto #Gate #FTX #DeFiLlama