Same, same but different? Bitcoin will deal with FTX just like with other exchange blow-ups, argues StockmoneyL.
The platforms tracked by CryptoQuant finished Nov. 9 and 10 down 35,000 and 26,000 BTC, respectively. Both days were multi-month records, nonetheless not surpassing the single-day tally from Jun. 17 — 67,600 BTC.Bitcoin exchange reserves chart. Source: CryptoQuant
More broadly, voices have been calling on social media users to withdraw funds from custodial wallets. "Bitcoin exchanges are run by people who learned fiat finance," Saifedean Ammous, author of the popular book,"The Bitcoin Standard,""Gambling with depositors' money is normal & healthy for them, because in the fiat system the central bank destroys the currency to bail them out every time it goes wrong."
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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