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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
David Plouffe, the strategic mastermind who once helped Obama win the election with the slogan 'Yes We Can,' is now turning to the Crypto Assets field, shouting 'Yes We Regulate.' This significant figure in American politics has joined the Coinbase Global Advisory Council, which may bring major Compliance breakthroughs to the crypto industry.
Plouffe's influence in the political arena is undeniable. During the 2008 election campaign, he innovatively used online fundraising and grassroots mobilization strategies to raise $750 million for Obama, completely revolutionizing the traditional campaign model. His extensive network in Washington is enough to influence the direction of policy-making.
Coinbase's introduction of Plouffe seems to have a clear strategy. Firstly, Plouffe is adept at translating complex policies into language that the public can understand, which is precisely what is needed to address the regulatory challenges posed by SEC Chairman Gensler. Secondly, this move clearly targets the upcoming 2024 U.S. elections, as there are significant differences in the attitudes of the two parties towards Crypto Assets.
On one hand, Trump expressed support for Crypto Assets, stating that he hopes to become the "Crypto President" and criticized the Biden administration's stance on Bitcoin. On the other hand, there is also a division within the Democratic Party, with 8 lawmakers jointly requesting the Biden administration to relax its encryption policies.
Plouffe's addition may provide Coinbase with crucial political influence, especially among those neutral lawmakers. This personnel change coincides with the U.S. House of Representatives passing the FIT21 Crypto Assets bill, while the Senate remains a legislative hurdle. Plouffe's political resources could be key to opening the doors of the Senate.
With the addition of this political strategist, the transformation of the regulatory environment in the Crypto Assets industry may accelerate, while also potentially attracting more traditional capital into this field.