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.

AccessTimeIconNov 8, 2022 at 4:01 p.m. UTC
Updated Nov 9, 2022 at 4:02 p.m. UTC

Stephen Alpher is CoinDesk's co-regional news chief, Americas. He holds BTC and ETH above CoinDesk’s disclosure threshold of $1,000.

Amid concerns about the health of FTX, investors have withdrawn bitcoin (BTC) en masse, bringing the crypto exchange's balance to essentially zero.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.

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.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Stephen Alpher is CoinDesk's co-regional news chief, Americas. He holds BTC and ETH above CoinDesk’s disclosure threshold of $1,000.

CoinDesk - Unknown

Stephen Alpher is CoinDesk's co-regional news chief, Americas. He holds BTC and ETH above CoinDesk’s disclosure threshold of $1,000.