FTX Collapse Triggers Over 80K Bitcoin Outflow From Exchanges
FTX’s collapse has significantly dented the confidence of investors in centralized crypto exchanges. Amidst the subsequent financial turmoil and reports about the troubled crypto exchange tapping customer funds to fund risky bets, the golden rule of crypto – “not your keys, not your coins”.
According to CryptoQuant, over 80,000 BTC have left exchange wallets in the past day. Investors are withdrawing their Bitcoin to store them in places other than an exchange, data showed. On-chain data also suggested that well over 5 billion stablecoins outflows from exchanges were tracked by CryptoQuant. The figures appear to be the largest since June 15 as the volatility stemming from the FTX drama continued to intensify.
Source
https://t.me/InvestmentTradingUpdates
