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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 People's Bank of China Publishes 2024 Report! Bitcoin and Altcoins Also Included!
As the year 2024, where important and critical decisions are made for Bitcoin and altcoins, is behind us, China, known for its strict bans, has released the 2024 Financial Stability Report.
The People's Bank of China also addressed the events in the cryptocurrency sector in its Financial Stability Report for 2024.
In this report, it is observed that China closely follows many global developments, while noting that Hong Kong has made progress in the process of harmonization regarding cryptocurrencies.
The report refers to Hong Kong's progress in many places, while noting that Hong Kong is actively researching the management of cryptocurrency asset licenses.
Despite the fact that 51 countries and regions worldwide, except Hong Kong, have imposed bans on cryptocurrencies, it is reported that some countries have eased or lifted their bans by 2024.
Rise and SEC's Bitcoin Approval!
The report, which indicates the attention drawn to the rise in Bitcoin and altcoins, stated that the rise started in 2023.
The report stated that despite official bans, Bitcoin and cryptocurrencies are closely monitored by many countries around the world in 2024.
The report, which specifically examines developments in the United States, stated that in 2024, the SEC took action against crypto asset issuers who violated the Securities Act in the United States.
In addition to developments in the US and Hong Kong, the report also covers the European Union's MiCA regulation, as well as regulatory efforts in the UK, Singapore, and Japan.
As it will be remembered, in 2021, China banned all activities related to Bitcoin and cryptocurrencies. However, it is claimed that China may lift the bans in the coming years.