$11 Billion Outflow of Bitcoin and Ethereum From Exchanges Following FTX Collapse
<p>Since the collapse of FTX on November 5, 2022, there has been a significant outflow of bitcoin and ethereum from exchanges. According to data from cryptoquant.com, 356,848 BTC worth around $6.02 billion has been removed from exchanges in the past 51 days, the largest amount of withdrawals for both cryptocurrencies all year. </p>
<p>The data also shows that 4.48 million ether was removed from exchanges in the same period. In addition, a large amount of stablecoins, such as USDC and USDT, have also been withdrawn from exchanges, totaling around $7.669 billion. However, the pace of withdrawals has slowed down since December 20, 2022, and there has been an increase in bitcoin deposits.</p>
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