Bitcoin balance on FTX Exchange goes negative – Coinglass

The magnitude of Bitcoin held connected FTX has gone antagonistic pursuing 20,175 BTC leaving the speech implicit the past 24 hours.

Of each exchanges tracked by Coinglass, FTX has the lowest equilibrium astatine -197.95 BTC.

The adjacent lowest is Poloniex astatine 127.14 BTC, portion exchanges specified arsenic Coinbase Pro and Binance clasp 573,452 BTC and 514,868 BTC, respectively.

Source: Coinglass

Over the past 24 hours, 17,579 BTC successful full near exchanges. The main outlier is Binance which saw an inflow of 16,792 BTC on with Bitfinex, Gemini, and Huobi which each saw implicit 3,000 BTC determination onto the platforms.

The illustration beneath showcases Bitcoin balances crossed each exchanges and the steep driblet connected Nov. 7. Previously, successful precocious October, 50,000 BTC moved onto exchanges successful a azygous time followed by a dependable inflow of BTC into the commencement of November.

Source: Coinglass

CryptoSlate antecedently reported that astir 20,000 BTC was moved from FTX to Binance amid the ongoing drama. Glassnode information showed 6,000 BTC held connected FTX arsenic of Nov. 6. aft weeks of outflows.

However, Coinglass information indicates the diminution has continued to the constituent wherever the equilibrium is present successful the negative.

A antagonistic BTC equilibrium connected FTX whitethorn bespeak an insolvency contented astir Bitcoin holdings connected the exchange. FTX CEO Sam Bankman-Fried communicated that “FTX is fine.” connected Nov. 6 claiming that determination is nary liquidity crisis. Further, SBF reiterated that withdrawals are inactive being processed arsenic further grounds that determination is nary request for investors to worry.

According to an FTX status page, Bitcoin withdrawals are inactive disposable contempt information suggesting the speech has a antagonistic Bitcoin balance. The leafage besides states that determination is simply a backstop money of $15 cardinal and 6 cardinal FTT tokens.

Trading measurement for Bitcoin connected FTX implicit the past 24 hours stands astatine 181,513 BTC with unfastened involvement astatine 35,799 BTC. Further, the full 24-hour spot trading connected FTX was reported arsenic $3.76 cardinal portion a enactment connected FTX’s Global Volume Monitor states that 35.3% of the reported crypto measurement crossed the full manufacture is fake.

For comparison, FTX reported that Binance’s spot trading measurement was $13.45 cardinal implicit the aforesaid period.

Questions volition apt present originate arsenic to whether FTX does person a antagonistic BTC equilibrium arsenic shown by Coinglass and if this volition origin the speech to merchantability different assets to get much BTC to cover.

The station Bitcoin equilibrium connected FTX Exchange goes antagonistic – Coinglass appeared archetypal connected CryptoSlate.