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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
Circle IPO soars giving hope to more startups waiting to go public
Circle, one of the world's largest issuers of USDC, a stablecoin pegged to the U.S. dollar, ended its first trading day as a public company at $83.23 per share, 168% above its IPO price of $31 set the previous day.
The IPO pop demonstrates public market investors' interest in cryptocurrencies and stablecoins in particular amid the Trump administration's supportive stance on crypto assets.
The significant surge in Circle's first-day trading could prompt institutional investors to set higher IPO prices for upcoming listings. Imminent IPOs include Omada Health, which is pricing on Thursday, and Klarna, a fintech that's set to list next week.
The company's IPO price, at which shares it sold shares, set its initial market value at $6.1 billion, a figure that fell short of Circle's last private market valuation of $7.7 billion, set it April 2021 when the company raised a $400 million Series F in April 2021, according to PitchBook data.
But the big pop cleaned that up and then some. Circle's market capitalization (excluding employee options) stood at $16.7 billion by the close of trading. And the company raised about $1.1 billion in the offering.
Circle joins a growing list of companies whose IPOs are priced below their private market highs, including recent 'down-round' offerings from healthtech Hinge, contractor platform ServiceTitan, and social network Reddit. So that's not likely to dissuade startups looking for signs that now is the right time to go public.
Circle's successful IPO comes three years after Circle's previous attempt at going public. The stablecoin issuer had plans to combine with a SPAC in 2022 at a $9 billion valuation.
The company's largest outside shareholders are General Catalyst, which held approximately 8.9% of all stock before the offering, and IDG Capital, which owned 8.8% of all shares. Other significant venture investors include Accel, Breyer Capital and Oak Investment Partners, according to the S1.
This article originally appeared on TechCrunch at
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