Business NewsDeFi News

$8 billion flowed out of exchanges in the last 7 days

Ever since the FTX debacle started, large quantities of BTC, ETH and stablecoins have been withdrawn from exchanges. The recent events have shattered the customers’ trust in the exchanges’ capabilities to back the funds. In a single week, more than $8 billion have flowed out of CEXs, taking the reserves at their lowest level since November 2018.

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