Bitcoin feels the heat from the FTX debacle, falling below $20,000.
“There were questions about a large FTT deposit to Binance, and we were transparent about the fact that we are closing our FTT position,” part of one of Zhao’s tweets read.
Its BTC reserves were reportedly just 7.1 BTC at the time of writing, further data showed, with this potentially due to changes in wallet management. In another of many reactions to the ongoing turmoil, Dylan LeClair, senior analyst at UTXO Management, argued that while it might not be over financially for FTX, the transparency of its operations was cause for concern.
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