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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
Ripple's RLUSD Stablecoin Mints 10 Million in Day: $500 Million Target in Sight
Ripple USD stablecoin, RLUSD, is gaining traction, inching closer to a $500 million market cap milestone. According to a recent tweet by Ripple Stablecoin Tracker, a community X account that tracks the minting of RLUSD, 10 million RLUSD was minted in just the last 24 hours through the RLUSD Treasury, indicating rising demand.
With recent mintings, RLUSD now holds a market value of approximately $415.72 million, according to CoinMarketCap data, placing it among the fastest-growing entrants in the stablecoin space.
As Ripple's ecosystem evolves, particularly since its expansion into institutional payments and real-world asset tokenization, RLUSD appears to play a key role.
In recent news, Ondo Finance's flagship short-term US Treasuries fund, OUSG, is now available on the XRPL, with minting and redemptions to be done through Ripple's stablecoin, RLUSD.
Stablecoins in spotlight
Stablecoins are in the spotlight following the passage of landmark stablecoin legislation in the US Senate on Tuesday, and large retailers have expressed interest in exploring stablecoins for use as payments in online transactions.
If the GENIUS Act is passed into law, stablecoins must be backed by liquid assets such as US dollars and short-term Treasury bills, and issuers must publicly declare the composition of their reserves regularly. According to observers, if implemented, it might serve as a stimulus for additional organizations across sectors to adopt stablecoins.
Stablecoins, a sort of cryptocurrency meant to keep a steady value, are commonly used by crypto traders to transfer payments between tokens. They are typically tied 1:1 to the US dollar.