#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
American man forges 30,000 fake IDs to profit $1.4 million in Bitcoin
PANews reported on February 7th that James Watt, a man from Indiana, USA, was sentenced to three years probation for forging about 30,000 fake identity cards. Court documents show that Watt worked for an unnamed website claiming to be the "most reliable source of fake ID cards." In four years, Watt received 14 BTC (about $1.4 million) as a reward. When law enforcement searched his residence, they found a forged Missouri ID card with the name "Thor Sol", Address listed as "Big Hammer Way", showing his excellent counterfeiting skills. The US Department of Justice has seized his illegal gains in accordance with a court order.