Gate.io's Response to the 519 Crypto Market Crash
SINGAPORE / ACCESSWIRE / June 10, 2021 / Global digital asset exchange
Gate.io recently announced that it worked on various steps to support their 6 million users and safeguard their holdings as a response to the
519 black swan event.
On May 19, 2021 the cryptocurrency market plummeted, causing concern for cryptocurrency traders across the world. To support their users, especially those with outstanding CryptoLoans, Gate.io
extended the liquidation time from May 19 to May 20 to give users with outstanding CryptoLoans enough time to either repay their loans or add additional collateral in order to avoid liquidation of their loans, essentially allowing a margin increase and extending repayment times.