Binance Labs, the investment division of the crypto exchange Binance, has reportedly achieved a historical return on investment of up to 2,100%.
According to a recent blog post, the total assets under the firm’s management have reached $7.5 billion.
The platform also assured users that “financial status is very healthy” and has sufficient funds to conduct daily operations and withstand difficult times.
Binance claims that all assets held by users on its platform are supported 1:1, and clients can withdraw coins at any time, refuting rumours about insufficient reserves.
Binance stated that it would not embezzle such assets for any transactions or investments, taking a shot at FTX, whose founders have been accused of misappropriating user funds. The exchange also clarified that it has no debts and is not on the creditors’ list of any bankrupt company.
Growth Recorded Despite FUD
Earlier this month, Binance released a report from auditing firm Mazars stating that its bitcoin reserves are overcollateralized. However, some industry experts and opinion leaders have criticized the report for having a limited scope.
According to Reuters, US prosecutors are considering bringing criminal charges for money laundering against Binance and its executives, including CEO Changpeng Zhao.
Binance did not respond to requests for comments on the purported investigation. In a tweet, Zhao urged his Twitter followers to “ignore the FUD.”
It is particularly remarkable that Binance could still increase its ROI by 2,100% despite the increased FUD that has targeted it over the last couple of days.
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