#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
Celsius founder Mashinsky was sentenced to 12 years for encryption fraud.
According to Gate.io News bot and Bloomberg, Alex Mashinsky, the founder of the Crypto Assets lending platform Celsius Network, has recently been sentenced to 12 years in prison.
Mashinsky engaged in crypto assets fraud during his tenure at Celsius Network. Previously, Celsius Network filed for bankruptcy protection in July 2022, with over 1.8 million users and managing assets totaling $12 billion.
Bloomberg reported that, in addition to serving his sentence, Mashinsky must also pay fines and forfeit illegal gains.