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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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✅ 5,000 GT Prize Pool
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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
- Limited-Time Airdrop Is LIVE — Don't Miss Out!
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👉 https://www.gate.com/campaigns/1227
- #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
teochew.eth accidentally exchanged 1 SPK for 19687 USDT
Gate News bot reports that, according to Lookonchain monitoring, trader 0x7ef29 sold 1 SPK at a high price of 19,687 USDT.
Before the SPK trading launch, teochew.eth created an SPK/USDT liquidity pool and added 19,998 USDT as unilateral liquidity.
He intended to set the exchange rate to 1 USDT = 19.931<996210 SPK, but mistakenly set it to 1 SPK = 19.931<996210 USDT.
As a result, trader 0x7ef29 exchanged almost all the USDT in the mining pool with just 1 SPK after the transaction opened, cashing out 19,687 USDT.
By the time teochew.eth discovered this error, most of the liquidity had already vanished.
He withdrew the remaining 32.92 USDT and 4.69 SPK (0.31 USD), losing 19,965 USD.