Of course, the Bitcoin reserves that had been hosted on FTX disappeared completely after the scandal. According to Cryptoquant, FTX hoarded 20,000 BTC tokens and they vanished in just two days between November 6 and 8.
FTX’s Bitcoin exit was the most outrageous, but not the only exit. Other exchanges that have been questioned as a result of that incident They have already seen how no lesser flows of BTC left their platforms. This is the case, for example, of Gate.io, whose balance it went from being 16,363 BTC tokens on November 6 to 10,542which means running out of more than a third of its previous data.
Who absorbed all this token leakage? Well, according to the same CryptoQuant sources, the great beneficiary would be Binance, In his case, after the initial fall that affected the entire sector, The balance of BTC on Binance on November 6 was 513,763 unitsfalling to 447,964 on November 13 and then rising up to 584,192 tokens:
Today, very few exchangers can boast that their balance in BTC is higher than the one they had before November 6, which is why it is presented as a success and timely support for the company’s management.
According to CoinGlass, Binance surpasses Coinbase as the largest Bitcoin holder on the market with a difference of 46,000 tokens. In third position would appear Bitfinex, whose balance in BTC today would be around 345,000 tokens.
Source: Ambito
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