The probability of bankruptcy of FTX exchange increased; What percentage of Ethereum was lost?

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the news Bankruptcy of FTX exchange It has scared many investors. More than 90% of Ethereum was removed from the FTX wallet.

the news Bankruptcy of FTX exchange It shook the tone of many investors in this exchange. According to the latest news, many users Altcoins Various people have withdrawn their wallets from FTX exchange. Accordingly, more than 90 percent Ethereum It has been removed from this exchange.

Read more: Ethereum in 2023; ETH price prediction, future and roadmap

The possibility of bankruptcy of the FTX exchange

Recent transfer of more than 500 million USD tokens (FTT) FTX exchange To Binancemany doubts about the financial affairs of this exchange Digital currency Created. Although FTX CEO Sam Benkman-Fried has assured that all the operations of the exchange are working well, it seems that investors are very panicked.

Apart from the widespread sale of FTT, users of other altcoins such as Ethereum (ETH) are also withdrawn from the main wallet of the FTX exchange. According to on-chain data, following the FTX crisis, more than 90% of Ethereum has been withdrawn from the exchange’s main wallet.

Bankruptcy of FTX exchange

In this regard, Santiment’s analytical platform reports:

In just two days, the amount of Ethereum held in the FTX main wallet has dropped from 322,000 to 32,000. At one point, Ethereum withdrawals from this wallet reached $500 ETH per minute. Despite the ongoing disagreements between Benkman-Fried and Changpeng Zhao (CEO of Binance), expect the unpredictable.

Additionally, Nansen platform data shows that FTX has had the highest stablecoin outflows among exchanges over the past seven days. According to reports, this exchange In the last 24 hours, it has had a net outflow of more than 450 million dollars and in the last 48 hours, nearly 700 million dollars.

During the winter Digital currencies In 2022, many platforms disabled the option to withdraw funds. This issue has caused great concern to the society Cryptocurrencies has been As a result, any negative emotions lead to strong reactions.

In the meantime, Benkman-Fried assures users: “A competitor is trying to stop us with false rumors. Now FTX is good. Assets are good. FTX has sufficient capital to cover all clients’ assets. We do not invest clients’ assets (not even in treasury). “We have processed all the comments and will continue.”

He added:

The FTX exchange is highly regulated, even if this slows it down. We have a GAAP audit, with over $1 billion in excess cash. We have a long history of protecting our clients’ assets and that is still true today.

Bankruptcy of FTX exchange

Since broad impressions Ethereum done from FTX, CEO of Binance took the opportunity to state that they have more than $8 billion in ETH deposits in two cold wallets: “This is not our money. They are the property of users. We are just guards.”

It is still unclear whether Zhao’s intention with these statements was to attract FTX users or not. Based on published data, while FTX is losing depositors, it appears that Binance It has earned approximately $411 million in transfers over the same time period.

Prices in the digital currency market

FTX token price In the last 24 hours, it has fallen another 30% to $16 amid massive selling. At the time of writing, Ethereum is also trading at a price range of $1,475, down more than 7% in the last 24 hours.

Meanwhile, Solana (SOL) also appears to be at risk of a significant fall; Because Benkman-Fried was one of Solana’s early investors. At the time of writing, Solana is trading in the $27 price range, down more than 16% in the last 24 hours.

Total value Digital currency market Also, with a drop of more than 5%, it once again fell below the level of 1 trillion dollars and reached 979.9 billion dollars.

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