FTX's Bitcoin Balance Plunges to Just 1
Roughly 20,000 bitcoin have been pulled from the crypto exchange in the past 24 hours, according to data from Coinglass.
Nov 8, 2022 at 4:01 p.m. UTCUpdated May 9, 2023 at 4:01 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/7TM6S46PIJDEJDXL7WEHF3R7NI.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Amid concerns about the health of FTX, investors have withdrawn bitcoin (BTC) en masse, bringing the crypto exchange's balance to essentially zero.
Data from Coinglass showed a bitcoin balance at FTX of just 1 BTC as of press time. That balance had been about 20,000 for the past month through as recently as 24 hours ago.
1:00:39
Why Presidential Candidate Vivek Ramaswamy Is So Pro-Crypto
01:10
Bitcoin Extends Rally as $1B in BTC Withdrawals Suggests Bullish Mood
1:02:43
Why Financial Advisors Are So Excited About a Spot Bitcoin ETF
02:21
When Could Traders See the Arrival of a Spot Bitcoin ETF?
Coinglass numbers show total bitcoin balances across all exchanges of just over 2 million, down just marginally over the past 24 hours. The two largest holders are Coinbase Pro and Binance, each with more than 500,000 coins.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/86c43cde-6640-4a7c-98af-5e25273f0e17.png)
Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.