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#GateRedBullRacingTour# - 📢 Gate releases its latest Reserve Audit Report!
💰 Total reserves: $10.453B
🟢 Excess reserves: $1.96B — ensuring full coverage and extra security for user assets.
Gate continues to uphold 100% proof-of-reserves and full transparency.
🔗 Read the full report: https://www.gate.com/zh/announcements/article/45617
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- #Gate Latest Proof of Reserves Reaches 10.453 Billion Dollars#
Gate has released its latest Proof of Reserves report! As of June 2025, the total value of Gate’s reserves stands at $10.453 billion, covering over 350 types of user assets, with a total reserve ratio of 123.09% and an excess reserve of $1.96 billion.
Currently, BTC, ETH, and USDT are backed by more than 100% reserves. The BTC customer balance is 17,022.60, and Gate’s BTC balance is 23,611.00, with an excess reserve ratio of 38.70%.The ETH customer balance is 386,645.00, and Gate’s ETH balance is 437,127.00, with an excess reserve
The U.S. House of Representatives questions SEC Chairman about encryption regulation stance and the progress of the Justin Sun lawsuit.
According to Gate News bot, The Block reported that on May 20, the U.S. House Appropriations Committee held a hearing to question SEC Chairman Paul Atkins about crypto assets regulation. Congressman Glenn Ivey focused on inquiring about the SEC's suspension of the fraud lawsuit against Justin Sun, as well as Sun's association with the Trump-related memecoin.
Regarding Justin Sun's announcement to attend the dinner hosted by Trump for memecoin holders, Ivey stated at the hearing that it is "disturbing" and urged the SEC to investigate. In response, Atkins stated that the case is ongoing, while clearly indicating that memecoins do not fall under the category of securities, and the SEC plans to advance regulatory work on Crypto Assets by formulating specific rules.
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