FTX's Bitcoin Balance Plunges to Just 1

Roughly 20,000 bitcoin have been pulled from the crypto exchange in the past 24 hours, according to data from Coinglass.

Nov 8, 2022 at 4:01 p.m. UTC

Updated Nov 9, 2022 at 4:02 p.m. UTC

CDCROP: Circling the drain water down washed away (Shutterstock) — Bitcoin balances at FTX go to almost zero. (Shutterstock)

Stephen Alpher is CoinDesk's co-regional news chief, Americas. He holds BTC and ETH above CoinDesk’s disclosure threshold of $1,000.

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Amid concerns about the health of FTX, investors have withdrawn bitcoin (BTC) en masse, bringing the crypto exchange's balance to essentially zero.

Data from Coinglass showed a bitcoin balance at FTX of just 1 BTC as of press time. That balance had been about 20,000 for the past month through as recently as 24 hours ago.

Coinglass numbers show total bitcoin balances across all exchanges of just over 2 million, down just marginally over the past 24 hours. The two largest holders are Coinbase Pro and Binance, each with more than 500,000 coins.

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