Are exchange users finally learning the meaning of 'not your keys, not your coins?'
CryptoQuant tracks a total of 38 exchanges, including those with reported financial problems such as FTX and Kucoin., suggested 177,000 BTC in weekly withdrawals through Nov. 13 — a U.S. dollar value of around $3 billion at today's price.Glassnode senior analyst Checkmate nonetheless flagged three exchanges in particular with what he called “particularly weird” Bitcoin balance readouts — Huobi, Gate.io and Crypto.com.
“These fund flows between exchanges include both real customers + FTX/Alameda. Hard to separate, thus looking as relative-to-balance,” he added. Forecasting how the current scenario may play out, Michaël van de Poppe, founder and CEO of trading firm Eight, meanwhile said that the worst was likely not yet over.told“Stay safe, be calm and don’t make emotional decisions. We’re in terrible territories, but crypto will come out of this stronger.”
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