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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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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
Community opposition causes Synthetix to terminate the $27 million acquisition of Derive.
According to Gate News bot, as reported by Cointelegraph, the Decentralized Finance platform Synthetix announced the cancellation of its acquisition plan for the encryption Options platform Derive. The plan originally involved $27 million, intending to exchange SNX and DRV Tokens at a ratio of 1:27.
Members of the Derive community have questioned the acquisition, with key concerns including the token conversion ratio and the overall benefits of the acquisition. Some users have pointed out that Derive's actual revenue exceeds that of Synthetix, and that the protocol does not limit the dilution value of Synthetix's additional tokens. Ben Celermajer, head of strategy at Synthetix, said that while some community members supported the deal, the two parties had decided to terminate the acquisition to facilitate collaboration due to the lack of expected support.
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