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- 🏁 Gate Red Bull Racing Tour 2025 In Full Swing!
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
The Federal Reserve Uses XRP for All Payments: Reality Check
Speculation in the cryptocurrency community has spread widely after the announcement that the Federal Reserve of the United States is using Ripple's XRP for all payments through its FedNow instant payment system. A viral post on X (previously known as Twitter) from a user stated that the Federal Reserve is using Ripple's XRP through the FedNow payment system, Faste payments, and Volante cloud payments. This user claimed, "Not a test. Not a rumor. 100% confirmed." Although it is true that Volante Technologies, a key partner in the FedNow pilot program, has integrated Ripple's blockchain for cross-border payments, there is no official confirmation that the Federal Reserve is directly using XRP for any payments. Volante's platform supports multiple technologies, including SWIFT, Ripple, and digital currencies, providing flexible backend solutions for organizations. FedNow, set to implement the ISO 20022 messaging standard on July 14, marks a significant step towards modernizing the payment infrastructure in the United States. Volante's involvement makes the idea that blockchain is increasingly playing a crucial role in financial systems more credible. However, linking this to XRP as a global payment token is speculative. The fact that the technology behind Ripple is integrated into a serious infrastructure is truly a sign of significant momentum. However, until that point, the claim that XRP is being used to power all payments of the Federal Reserve is simply an exaggeration and has not been officially proven.