According to recent bankruptcy filing FTX has none of the 1.4 billion (more than 70000 BTC) of user bitcoin funds. They literally sold the most liquid asset to prop up their illiquid shitcoins!
10 sats \ 1 reply \ @siggy47 14 Nov 2022
I suspect they never owned them to begin with. They created fake wrapped bitcoin to trade without keeping the 1 to 1 reserves to back the wrapped bitcoin up.
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20 sats \ 0 replies \ @whitecoatHODL OP 14 Nov 2022
and there were people trading wrapped BTC in the so called DEXes of solana which were only redeemable for real bitcoin through FTX exchange. what a shitshow!
anyways good riddance!
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