{"id":288527,"date":"2023-01-13T19:37:04","date_gmt":"2023-01-13T19:37:04","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=288527"},"modified":"2023-01-13T19:37:04","modified_gmt":"2023-01-13T19:37:04","slug":"stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/","title":{"rendered":"Stablecoin reserves in centralized exchanges continue to fall after FTX collapse"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Gradually, alongside the cryptocurrency industry, stablecoins are growing in strength and popularity. Their growth results from the stability they offer against cryptocurrency volatility.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the moment, USDT remains the largest stablecoin by market cap, as USDC, Binance USD, and DAI make up the top 4.\u00a0<\/span><\/p>\n<h2>Prominent stablecoins after FTX collapse<\/h2>\n<p><span style=\"font-weight: 400;\">The entirety of the stablecoin sector has a market cap of $138 billion, according to <a href=\"https:\/\/coinmarketcap.com\/view\/stablecoin\/\">CoinMarketCap<\/a>. The big four stablecoins contribute more than $130 billion to the figure, dominating the stablecoin market. Despite their growth and popularity, only a minimal amount of stablecoins are on cryptocurrency exchanges.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Presently, about 37 billion stablecoins are <\/span><a href=\"https:\/\/cryptoquant.com\/asset\/stablecoin\/chart\/exchange-flows\/exchange-reserve\"><span style=\"font-weight: 400;\">held<\/span><\/a><span style=\"font-weight: 400;\"> in reserves of cryptocurrency exchanges. Binance is the highest contributor to this figure, with about $24 billion in stablecoins in its reserve. Coinbase has more than $973 million, Huobi $709 million, Bitfinex $145 million, Gemini 98 million, and Gate.io $78 million.\u00a0<\/span><\/p>\n<figure id=\"attachment_288531\" aria-describedby=\"caption-attachment-288531\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-288531 size-large\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_stables-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_stables-1024x576.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_stables-300x169.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_stables-768x432.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_stables-1536x864.png 1536w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_stables.png 1800w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-288531\" class=\"wp-caption-text\">Stablecoin balances in centralized exchanges (Source: Glassnode)<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Due to market uncertainty and low trust in centralized exchanges after the collapse of FTX, about 3.93 billion stablecoins have left exchanges in the last 30 days.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite the prevailing crypto winter, USDT has enjoyed more of a stable presence in the reserve of cryptocurrency exchange. Since August 2022, USDT has largely stayed flat at $18 billion in the reserve of cryptocurrency exchanges.\u00a0<\/span><\/p>\n<figure id=\"attachment_288532\" aria-describedby=\"caption-attachment-288532\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-288532 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_tether-balance-on-exchanges-usdt-all-exchanges.png\" alt=\"\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_tether-balance-on-exchanges-usdt-all-exchanges.png 1800w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_tether-balance-on-exchanges-usdt-all-exchanges-300x169.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_tether-balance-on-exchanges-usdt-all-exchanges-1024x576.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_tether-balance-on-exchanges-usdt-all-exchanges-768x432.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_tether-balance-on-exchanges-usdt-all-exchanges-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-288532\" class=\"wp-caption-text\">USDT balances on exchanges (Source: Glassnode)<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">USDC, on the other hand, has enjoyed some growth while trying to curb USDT's dominance in the stablecoin market. Since the collapse of FTX in early November 2022, the amount of USDC in the reserve of cryptocurrency exchanges doubled to $5 billion.\u00a0<\/span><\/p>\n<figure id=\"attachment_288533\" aria-describedby=\"caption-attachment-288533\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-288533 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_usd-coin-balance-on-exchanges-usdc-all-exchanges.png\" alt=\"\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_usd-coin-balance-on-exchanges-usdc-all-exchanges.png 1800w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_usd-coin-balance-on-exchanges-usdc-all-exchanges-300x169.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_usd-coin-balance-on-exchanges-usdc-all-exchanges-1024x576.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_usd-coin-balance-on-exchanges-usdc-all-exchanges-768x432.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_usd-coin-balance-on-exchanges-usdc-all-exchanges-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-288533\" class=\"wp-caption-text\">USDC balances on exchanges (Source: Glassnode)<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, the resilience the stablecoin sector has been enjoying since the collapse of Terra Algorithm stablecoin UST is somewhat under threat. Following the <a href=\"https:\/\/www.huobi.com\/support\/en-us\/detail\/104921194018990\">announcement<\/a> of Huobi Global to delist the HUSD stablecoin, the token has suffered a massive decline.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Shortly after the announcement, the stablecoin fell 72% off its dollar peg, and now HUSD is trading at 13 cents.\u00a0In a sharp dip, the amount of HUSD in cryptocurrency exchange reserves is about to surpass its all-time low of $65 million. <\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<figure id=\"attachment_288530\" aria-describedby=\"caption-attachment-288530\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-288530 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_husd-balance-on-exchanges-husd-all-exchanges.png\" alt=\"\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_husd-balance-on-exchanges-husd-all-exchanges.png 1800w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_husd-balance-on-exchanges-husd-all-exchanges-300x169.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_husd-balance-on-exchanges-husd-all-exchanges-1024x576.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_husd-balance-on-exchanges-husd-all-exchanges-768x432.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/glassnode-studio_husd-balance-on-exchanges-husd-all-exchanges-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-288530\" class=\"wp-caption-text\">HUSD balances on exchanges (Source: Glassnode)<\/figcaption><\/figure>\n<h2>Stablecoin reserve in centralized exchanges<\/h2>\n<p><span style=\"font-weight: 400;\">Following the collapse of FTX, investors began to doubt the reliability of Centralized exchanges.\u00a0<\/span><span style=\"font-weight: 400;\">As of January 12, Binance recorded about $5.202 billion outflow of stablecoin since the collapse of FTX.<\/span><\/p>\n<figure id=\"attachment_288536\" aria-describedby=\"caption-attachment-288536\" style=\"width: 1098px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-288536 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/crt.png\" alt=\"\" width=\"1098\" height=\"564\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/crt.png 1098w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/crt-300x154.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/crt-1024x526.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/crt-768x394.png 768w\" sizes=\"(max-width: 1098px) 100vw, 1098px\" \/><figcaption id=\"caption-attachment-288536\" class=\"wp-caption-text\">Binance stablecoin balances (Source: CryptoQuant)<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Likewise, within two months after the demise of FTX, Coinbase Pro saw a net outflow of $690 million, Huobi $277 million, Bitfinex $125 million, Gemini $398 million, and Gate.io $42 million. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">OKX, on the positive side, didn't record a deficit; instead, the cryptocurrency exchange enjoyed a $43 million net inflow.\u00a0<\/span><\/p>\n<figure id=\"attachment_288537\" aria-describedby=\"caption-attachment-288537\" style=\"width: 1058px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-288537 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/okx.png\" alt=\"\" width=\"1058\" height=\"558\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/okx.png 1058w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/okx-300x158.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/okx-1024x540.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/okx-768x405.png 768w\" sizes=\"(max-width: 1058px) 100vw, 1058px\" \/><figcaption id=\"caption-attachment-288537\" class=\"wp-caption-text\">OKX Stablecoin reserve (Source: CryptoQuant)<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Within this period, cryptocurrency exchanges witnessed about $6.2 billion net outflow of stablecoin, with Binance suffering the most, according to <\/span><a href=\"https:\/\/cryptoquant.com\/asset\/stablecoin\/chart\/exchange-flows\/exchange-reserve\"><span style=\"font-weight: 400;\">Cryptoquant<\/span><\/a><span style=\"font-weight: 400;\">. However, the outflow cannot be considered significant since Binance held about $39.9 billion worth of stablecoin, according to its proof of reserve <a href=\"https:\/\/www.binance.com\/en\/blog\/community\/our-commitment-to-transparency-2895840147147652626\">report<\/a> from Nov. 10.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Exchanges like Binance and Crypto.com released proof-of-reserves with Mazars in November to establish users' trust. Even so, the firms later faced backlash from the community as some argued that the report did not reveal the full reserve of the exchanges.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a harsh consequence, Binance, within a day, <a href=\"https:\/\/cryptoslate.com\/binance-sees-the-largest-outflow-of-stablecoins-in-24-hours\/\">witnessed<\/a> a massive withdrawal of stablecoins that amounted to about $2.1 billion.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It's apparent from the charts that users still have trust issues with centralized exchanges since stablecoin reserves continue to fall.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gradually, alongside the cryptocurrency industry, stablecoins are growing in strength and popularity. Their growth results from the stability they offer against cryptocurrency volatility. At the moment, USDT remains the largest stablecoin by market cap, as USDC, Binance USD, and DAI make up the top 4.\u00a0 Prominent stablecoins after FTX collapse The entirety of the stablecoin [&hellip;]<\/p>\n","protected":false},"author":1393,"featured_media":288614,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77873,77921,32631],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stablecoin reserves in centralized exchanges continue to fall after FTX collapse<\/title>\n<meta name=\"description\" content=\"FTX&#039;s collapse led to market uncertainty and low trust in centralized exchanges, resulting in 3.93 billion stablecoins leaving exchanges since then.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stablecoin reserves in centralized exchanges continue to fall after FTX collapse\" \/>\n<meta property=\"og:description\" content=\"FTX&#039;s collapse led to market uncertainty and low trust in centralized exchanges, resulting in 3.93 billion stablecoins leaving exchanges since then.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-13T19:37:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/stablecoin-cex.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Soumen Datta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Soumen Datta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/\"},\"author\":{\"name\":\"Soumen Datta\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/2b1fd7a2a28e0f71f17a0f130c09fc83\"},\"headline\":\"Stablecoin reserves in centralized exchanges continue to fall after FTX collapse\",\"datePublished\":\"2023-01-13T19:37:04+00:00\",\"dateModified\":\"2023-01-13T19:37:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/\"},\"wordCount\":607,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"articleSection\":[\"Bear Market\",\"Research\",\"Stablecoins\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/\",\"url\":\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/\",\"name\":\"Stablecoin reserves in centralized exchanges continue to fall after FTX collapse\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/#website\"},\"datePublished\":\"2023-01-13T19:37:04+00:00\",\"dateModified\":\"2023-01-13T19:37:04+00:00\",\"description\":\"FTX's collapse led to market uncertainty and low trust in centralized exchanges, resulting in 3.93 billion stablecoins leaving exchanges since then.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptoslate.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Stablecoin reserves in centralized exchanges continue to fall after FTX collapse\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptoslate.com\/#website\",\"url\":\"https:\/\/cryptoslate.com\/\",\"name\":\"CryptoSlate\",\"description\":\"Cryptocurrency News and Real-time Coin Data\",\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":[\"Organization\",\"NewsMediaOrganization\"],\"@id\":\"https:\/\/cryptoslate.com\/#organization\",\"name\":\"CryptoSlate\",\"url\":\"https:\/\/cryptoslate.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"width\":1000,\"height\":1000,\"caption\":\"CryptoSlate\"},\"image\":{\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/twitter.com\/cryptoslate\",\"https:\/\/www.instagram.com\/cryptoslate\",\"https:\/\/www.linkedin.com\/company\/cryptoslate\",\"https:\/\/www.youtube.com\/c\/cryptoslate\",\"https:\/\/cryptoslate.substack.com\",\"https:\/\/t.me\/cryptoslatenews\",\"https:\/\/www.tiktok.com\/@cryptoslatenews\"],\"publishingPrinciples\":\"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles\",\"ownershipFundingInfo\":\"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/\",\"actionableFeedbackPolicy\":\"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback\",\"correctionsPolicy\":\"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback\",\"ethicsPolicy\":\"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles\",\"foundingDate\":\"2017-08-04\",\"founder\":[{\"@type\":\"Person\",\"name\":\"Nate Whitehill\"},{\"@type\":\"Person\",\"name\":\"Matthew Blancarte\"}],\"contactPoint\":[{\"@type\":\"ContactPoint\",\"contactType\":\"customer support\",\"url\":\"https:\/\/cryptoslate.com\/contact\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"sales\",\"url\":\"https:\/\/cryptoslate.com\/advertising\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"newsroom\",\"url\":\"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback\",\"email\":\"tips@cryptoslate.com\",\"availableLanguage\":\"en-US\"}],\"masthead\":\"https:\/\/cryptoslate.com\/about\/#masthead\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/2b1fd7a2a28e0f71f17a0f130c09fc83\",\"name\":\"Soumen Datta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/10\/cs-soumen-150x150.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/10\/cs-soumen-150x150.jpg\",\"caption\":\"Soumen Datta\"},\"description\":\"Soumen is a dedicated researcher and writer in the field of cryptocurrencies, DeFi, NFTs, and GameFi projects. Although this space is still in its infancy, there has been a lot of development and funding in this area, and he believes it will become much more mainstream within the next ten years. Soumen enjoys playing his guitar and singing along in his spare time.\",\"url\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Stablecoin reserves in centralized exchanges continue to fall after FTX collapse","description":"FTX's collapse led to market uncertainty and low trust in centralized exchanges, resulting in 3.93 billion stablecoins leaving exchanges since then.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/","og_locale":"en_US","og_type":"article","og_title":"Stablecoin reserves in centralized exchanges continue to fall after FTX collapse","og_description":"FTX's collapse led to market uncertainty and low trust in centralized exchanges, resulting in 3.93 billion stablecoins leaving exchanges since then.","og_url":"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/","og_site_name":"CryptoSlate","article_published_time":"2023-01-13T19:37:04+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/stablecoin-cex.jpg","type":"image\/jpeg"}],"author":"Soumen Datta","twitter_card":"summary_large_image","twitter_creator":"@cryptoslate","twitter_site":"@cryptoslate","twitter_misc":{"Written by":"Soumen Datta","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/#article","isPartOf":{"@id":"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/"},"author":{"name":"Soumen Datta","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/2b1fd7a2a28e0f71f17a0f130c09fc83"},"headline":"Stablecoin reserves in centralized exchanges continue to fall after FTX collapse","datePublished":"2023-01-13T19:37:04+00:00","dateModified":"2023-01-13T19:37:04+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/"},"wordCount":607,"commentCount":0,"publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"articleSection":["Bear Market","Research","Stablecoins"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/#respond"]}],"copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/cryptoslate.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/","url":"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/","name":"Stablecoin reserves in centralized exchanges continue to fall after FTX collapse","isPartOf":{"@id":"https:\/\/cryptoslate.com\/#website"},"datePublished":"2023-01-13T19:37:04+00:00","dateModified":"2023-01-13T19:37:04+00:00","description":"FTX's collapse led to market uncertainty and low trust in centralized exchanges, resulting in 3.93 billion stablecoins leaving exchanges since then.","breadcrumb":{"@id":"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/cryptoslate.com\/stablecoin-reserves-in-centralized-exchanges-continue-to-fall-after-ftx-collapse\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptoslate.com\/"},{"@type":"ListItem","position":2,"name":"Stablecoin reserves in centralized exchanges continue to fall after FTX collapse"}]},{"@type":"WebSite","@id":"https:\/\/cryptoslate.com\/#website","url":"https:\/\/cryptoslate.com\/","name":"CryptoSlate","description":"Cryptocurrency News and Real-time Coin Data","publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"inLanguage":"en-US"},{"@type":["Organization","NewsMediaOrganization"],"@id":"https:\/\/cryptoslate.com\/#organization","name":"CryptoSlate","url":"https:\/\/cryptoslate.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","width":1000,"height":1000,"caption":"CryptoSlate"},"image":{"@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/twitter.com\/cryptoslate","https:\/\/www.instagram.com\/cryptoslate","https:\/\/www.linkedin.com\/company\/cryptoslate","https:\/\/www.youtube.com\/c\/cryptoslate","https:\/\/cryptoslate.substack.com","https:\/\/t.me\/cryptoslatenews","https:\/\/www.tiktok.com\/@cryptoslatenews"],"publishingPrinciples":"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles","ownershipFundingInfo":"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/","actionableFeedbackPolicy":"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback","correctionsPolicy":"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback","ethicsPolicy":"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles","foundingDate":"2017-08-04","founder":[{"@type":"Person","name":"Nate Whitehill"},{"@type":"Person","name":"Matthew Blancarte"}],"contactPoint":[{"@type":"ContactPoint","contactType":"customer support","url":"https:\/\/cryptoslate.com\/contact\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"sales","url":"https:\/\/cryptoslate.com\/advertising\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"newsroom","url":"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback","email":"tips@cryptoslate.com","availableLanguage":"en-US"}],"masthead":"https:\/\/cryptoslate.com\/about\/#masthead"},{"@type":"Person","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/2b1fd7a2a28e0f71f17a0f130c09fc83","name":"Soumen Datta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/10\/cs-soumen-150x150.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/10\/cs-soumen-150x150.jpg","caption":"Soumen Datta"},"description":"Soumen is a dedicated researcher and writer in the field of cryptocurrencies, DeFi, NFTs, and GameFi projects. Although this space is still in its infancy, there has been a lot of development and funding in this area, and he believes it will become much more mainstream within the next ten years. Soumen enjoys playing his guitar and singing along in his spare time.","url":"https:\/\/cryptoslate.com\/author\/soumen-datta\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/288527"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/1393"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=288527"}],"version-history":[{"count":11,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/288527\/revisions"}],"predecessor-version":[{"id":288863,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/288527\/revisions\/288863"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/288614"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=288527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=288527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=288527"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=288527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}