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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
Cardano's Charles Hoskinson Suggests Swapping $100M of ADA for Bitcoin, Stablecoins
Cardano co-founder Charles Hoskinson has floated the idea of converting $100 million worth of ADA tokens into bitcoin BTC and stablecoins.
"We could take $100 million of ADA in the treasury, convert it to a blend of stablecoins incumbent in Cardano so USDM and USDA and convert some of it in bitcoin to prime bitcoin DeFi," Hoskinson said on a YouTube live stream.
He then hit back at critics that claimed a $100 million sale would impact the price of ADA, calling them "inexperienced" before adding that the sale "would not cause any problems at all."
The goal of the sale would be getting the ratio of stablecoin issuance and TVL to around 30% to 40% versus the current roughly 10%.
Total value locked on Cardano stands at $356 million with just $31 million worth of stablecoins minted on-chain, DefiLlama data shows.
Solana meanwhile has $9.8 billion in TVL and $11 billion worth of stablecoins minted on-chain.
In a tweet Hoskinson said that the stablecoin situation is "killing Cardano" and that the proposal would generate "non-inflationary revenue" and help build the Cardano DeFi economy.
Hoskinson's comments are at odds with those of Cardano Foundation CEO Frederik Gregaard, who told CoinDesk in March that TVL is not a metric he used for adoption.
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