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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
SEC - New Development in Ripple Case: Now Waiting for August 15 for XRP!
The SEC - Ripple case regarding XRP never seems to come to an end. Although the parties have reached an agreement in this long-running case, the official procedure is still ongoing.
At this point, a new development occurred in the SEC and Ripple case, and the parties requested the court to stay the appeal due to pending applications.
SEC and Ripple requested the district court to halt the appeals process and suspend the appeals, referring to an agreement made between them.
Defense attorney and former federal prosecutor James K. Filan stated in a post from his X account that the parties requested the court to continue suspending their appeals and that the SEC submit a status report by August 15, 2025.
Now, the SEC will submit another status report by August 15, and the long-standing case will be further delayed.
Because the parties are waiting for the approval of the agreement to lift the injunction in Judge Analisa Torrses' final decision, which includes the return of 50 million dollars of the penalty amounting to 125,035,150 dollars held in escrow to the SEC, and the remaining amount to Ripple.
As a reminder, Judge Torres rejected this agreement due to procedural issues. Subsequently, a rapid re-filing process was initiated.
At this point, experts and lawyers are expecting Judge Analisa Torres to make a decision regarding the agreement that includes the request to lift the injunction and reduce the penalty to 50 million dollars within a few days. The decision is expected on Thursday or next week.
Experts also indicated that there is a high likelihood of Torres approving the Ripple-SEC settlement, citing the strategic position of the filing and the mutual agreement between the parties as justification.
As a result, it is predicted that the expected conclusion of the case could lead to an increase in the XRP price and accelerate the approval of the XRP ETF that is currently pending before the SEC.
*It is not investment advice.
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