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Up to now, the total trading volume exceeded $2 billion, with top trader trading volume nearing $200 million
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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
River CEO Has No Interest in Listing Altcoins out of Fear of ‘Forever Hamster Wheel of Memecoins’ - The Daily Hodl
The CEO of the Bitcoin (BTC)-focused exchange River says he has no interest in providing access to anything other than the flagship crypto asset.
In a post on the social media platform X, River CEO Alexander Leishman says crypto exchanges that list altcoins – which is almost all of them – have become more like casinos stuck on a “forever hamster wheel of memecoins.”
“There are two paths for a crypto exchange/brokerage:
1. Bitcoin-only path – focus on helping people build and preserve long-term wealth through hard money. This path leads to an exchange looking more like a ‘bank’ long term.
2. Multi-asset trading platform – add as many coins as possible and build the business model around speculative trading. This leads to the exchange becoming more like a casino.
Both can make money, but these are the only two options. The minute an exchange adds one non-Bitcoin token, they are signing up to be on the forever hamster wheel of memecoins. It makes no sense to list ETH if you don’t list the tokens issued on ETH, and the same goes for Solana.
There are many successful crypto casinos, but I have no interest in building such a business. The casino business model is built around maximal extraction from customers, and the Bitcoin only model is focused on helping people build long-term wealth.”
According to River, currency debasement is vastly larger than officially admitted, and is the reason the exchange is Bitcoin-focused.
“There is a 275% gap between the inflation you’re told and real inflation.
This is why we Bitcoin.”
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