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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. Senate passed the first GENIUS bill regarding federal regulation of stablecoins.
Gate News bot message, on June 17, the U.S. Senate passed the GENIUS Act with a vote of 51 to 23, opening a new chapter in federal regulation of stablecoins. This is the first significant cryptocurrency legislation to be passed in the United States.
The bill stipulates that stablecoin issuers must maintain full reserves in USD or equivalent liquid assets. Issuers with a market capitalization exceeding $50 billion are required to undergo annual audits, and the bill also clearly outlines the priority of payments in the event of foreign issuance and bankruptcy.
The bill will be submitted to the House for further consideration. The House needs to choose between advancing its version of the Stablecoin Transparency and Accountability for a Better Ledger Economy Act and adopting the GENIUS bill passed by the Senate.
Source: The Block
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