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Gate’s OpenAI pre-IPO subscriptions top $260 million as sale completes

Gate’s OpenAI pre-IPO subscriptions top $260 million as sale completes

Demand for roughly $20 million of OPENAI asset certificates exceeded 1300% as subscriptions closed, with 27,700 certificates priced at $722 each and payable in USDT or GUSD.

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Fact Check
The PANews 24-hour article explicitly reports cumulative subscriptions exceeding $231 million (2.31亿美元) with a 1156.57% subscription rate, matching the claim exactly. The official Gate IPO page confirms the ~$20M offering size, USDT/GUSD support, July 17 deadline, and subscription rates over 1,000%. The 1-hour reports from Odaily and PANews ($148M, 639.39%) show a consistent ramp-up trajectory. All numeric and structural details align across independent sources, though the primary corroboration comes from crypto-media (PANews) rather than an official Gate statement of the exact $231M figure.
Summary

Gate’s second Pre-IPO project tied to OpenAI (OPENAI) has completed subscriptions after demand rose above $260 million for an offering worth about $20 million. Gate’s official page showed the subscription rate topped 1300% for the sale of 27,700 OPENAI asset certificates priced at $722 each, with USDT and GUSD accepted for payment. Earlier figures had shown subscriptions surpassing $231 million within 24 hours and $148 million within one hour, indicating demand kept building through the subscription period. Pre-IPO offerings typically give users exposure to private-company-linked instruments before any public listing, though heavy oversubscription can result in scaled allocations when demand exceeds supply.

Terms & Concepts
  • Pre-IPO: An offering tied to a company before any public market listing.
  • subscription rate: A measure of how much investor demand exceeds the amount available in an offering.
  • asset certificates: Instruments that give buyers exposure to the value of an underlying asset rather than direct ownership of shares.