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FTX Fiasco Sparks Billions of Dollars of Outflows From Exchanges

  • Roughly $3.7 billion in BTC and $2.5 billion in ETH withdrawn
  • Over $2 billion in stablecoins was also taken off exchanges
Bloomberg business news
FTX Fallout: What Happens to Crypto Space Now?

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The spectacular collapse of 30-year-old Sam Bankman-Fried’s crypto empire has fueled a spike in outflows across global crypto exchanges. Users yanked a net $3.7 billion worth of Bitcoin and $2.5 billion of Ether in the week from Sunday, Nov. 6 to Sunday, Nov. 13, according to data provider CryptoQuant.