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The aftermath of the ftx exchange collapse reshapes Bitcoin deposits, withdrawals

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As trust in crypto hits a low, a significant divergence emerges between Bitcoin withdrawals and deposits

James Van Straten

Jul. 17, 2023 at 11:38 am UTC

1 min read

Updated: Jul. 17, 2023 at 11:47 am UTC

Bitcoin BTC (24h)

$89,273.01 -0.38%

Vol: $14.9B MCap: $1.78T

Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.

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Sam Bankman-Fried

Former CEO & Founder FTX

Sam Bankman-Fried is an American entrepreneur and former chief executive of the FTX cryptocurrency exchange and the trading firm Alameda Research.

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FTX

Crypto Exchange • Caribbean

FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.