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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.
Updated May 9, 2023, 4:01 a.m. Published Nov 8, 2022, 4:01 p.m.
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Amid concerns about the health of FTX, investors have withdrawn bitcoin en masse, bringing the crypto exchange's balance to essentially zero.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.
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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: FTX Token Plummets as Market Fears Possible Alameda Contagion
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Recapping Consensus Hong Kong
Crypto's role in payments for AI, regulatory changes and the digital asset market dominated conversations on the ground.
What to know:
- Speakers at CoinDesk's Consensus Hong Kong conference said crypto and stablecoins are likely to become the default payment tools for autonomous AI agents in an emerging "machine economy."
- Market participants warned that bitcoin, which has already dropped nearly $30,000 in a month, may fall further, with $50,000 seen as the level to watch.
- Hong Kong regulators are pressing ahead with crypto rules even as others wait to see how U.S. legislation develops.
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