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- 🔥 Gate Square #Gate Alpha Third Points Carnival# Trading Sharing Event - 5 Days Left!
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- 📢 Gate has released its latest Proof of Reserves report!
As of July 11, 2025:
💰 Total reserves reached $10.504 billion
📈 Reserve ratio stands at 126.03%
✅ Covers over 350 types of user assets
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Committed to transparency and user fund security.
📎 Learn more: https://www.gate.com/proof-of-reserves
- 📢 Gate Square #Creator Campaign Phase 1# is now live – support the launch of the PUMP token sale!
The viral Solana-based project Pump.Fun ($PUMP) is now live on Gate for public sale!
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📅 Campaign Period: July 11, 18:00 – July 15, 22:00 (UTC+8)
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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
Gate has surpassed 30M users worldwide — not just a number, but a journey we've built together.
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Share your story on Gate Square, and embrace the next 30 million together!
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1️⃣ Post a photo or video with Gate elements
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3️⃣ Share your post on Twitter (X) — top 10 views will get extra rewards!
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CZ Addresses Delay in Proof-of-Reserves, Blames FUD on Known Controversial Trader - Crypto Economy
TL;DR
CZ stepped in to defend Binance after the company faced accusations and doubts over its financial transparency.
Trader James Wynn posted on social media claiming the company hadn’t released its monthly proof-of-reserves report, triggering a wave of speculation about the safety of user funds in custody.
However, Binance’s response came swiftly. Changpeng Zhao (CZ) publicly clarified that the company takes a snapshot of its reserves on the 1st of each month and releases the report a few days later, once verification procedures are completed. He explained that this has been the standard process for several months without changes.
CZ Exposes Wynn, Who Deletes His Posts
Wynn’s accusation, which he deleted shortly after posting, caused a stir on social media but didn’t disrupt Binance’s operational routine. In fact, CZ was right, and the June report is now publicly available, confirming that all user assets remain fully backed on a 1:1 basis.
The report also revealed substantial growth in Binance’s Bitcoin reserves. The company’s own BTC balance rose from 2,746 BTC in February to 606,080 BTC in June, solidifying its position. Meanwhile, Ethereum and Solana balances remained steady at relatively low levels.
Wynn, known for risky trades and publicized losses on the Hyperliquid exchange, was exposed yet again by this episode. His track record includes a $100 million loss on a single trade, public requests for donations to continue trading, and promoting an Andrew Tate-linked token that has fallen 97% from its peak. The crypto community quickly pointed out these precedents after his post about Binance.
Although he stepped down as CEO, CZ remains highly active in Binance’s public affairs and in the industry. He regularly participates in interviews, defends the company’s reputation, and comments on the firm’s strategic moves