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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
2 important milestones for the development of XRP that investors need to pay attention to.
The XRP ecosystem is approaching two important deadlines that could significantly impact the project's legal status and market accessibility in the United States.
The first important date is linked to the SEC's consideration of the proposed Franklin Templeton XRP spot ETF. The second day relates to an important update in the ongoing lawsuit between the SEC and Ripple Labs.
The decision on the XRP ETF by the United States at the end of July
On June 17, the SEC extended the review of Cboe BZX's application for a spot XRP ETF listing. As part of the extension, the agency has opened a new public comment period.
This period lasts about 21 days, with an additional 14 days for rebuttal, so the timeframe for the next decision will take place at the end of July 2025.
By the deadline, the SEC must approve or deny the listing or request further delays.
However, according to regulations, the SEC has 240 days to process the application, so this agency is expected to make a final decision in the upcoming timeframe.
The SEC's decision will serve as a general indicator of how they handle altcoin-based ETFs. Notably, the Commission will make decisions on several Solana ETFs at the same time.
Ripple's lawsuit progresses with August status report
The SEC and Ripple jointly filed a motion on June 16 to address key issues in the ongoing legal battle between them.
This move calls for the court to lift the ban on selling XRP and amend the financial penalties imposed on Ripple.
The parties also requested the U.S. Court of Appeals – Second Circuit, to stay the appeal process. This allows the lower court time to consider and potentially approve the proposed settlement terms.
The situation report will be submitted on August 15, 2025. That record will confirm whether Judge Analisa Torres accepts the joint motion or whether the appeal process will continue.
If approved, Ripple could continue selling XRP to institutional investors, removing a significant legal barrier to wider adoption and use of XRP in business.
The end of July and August 15 both mark important milestones for XRP. One milestone focuses on regulatory clarity in the public market; while the other milestone focuses on resolving legal disputes with the SEC.
Therefore, investors and organizations need to monitor and pay attention to both of these processes.
Vincent