According to the analytical portal DeFiLlama, the amount of funds of users of the Binance crypto exchange has increased since the beginning of the year by more than $40 billion and reached $115 billion.

According to DeFiLlama, the total value of assets blocked on the centralized exchange Binance almost doubled from $67 billion to $115 billion. The latest snapshot of Proof-of-Reserves (POR) at the beginning of March showed that the reserves of the cryptocurrency platform exceeded $100 billion, which gives experts the right to assume a similar the volume of user funds placed on exchange accounts.

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“We hold all user funds at a 1:1 ratio with additional reserves that anyone can verify using the Proof of Reserves (POR) system. Over the past few weeks, there has been a significant and sustained increase in the prices of digital assets, which undoubtedly played an important role in increasing the value of user assets under the control of Binance,” Binance commented on the results achieved.

Binance CEO Richard Teng said the exchange has a “debt-free” capital structure, which reinforces confidence in the platform's financial stability.

“Despite the actions of the US Department of Justice against the exchange and its co-founder Changpeng Zhao, Binance is not an easy company to destroy. “Binance’s reserve verification system plays a special role in the fight for survival, demonstrating its ability to fully support customer withdrawal requests,” the Binance CEO added.

Previously, the District of Columbia court issued a ruling limiting the ability of the US Securities and Exchange Commission (SEC) to use circumstantial evidence and evidence in all lawsuits involving Binance.