{"id":23370,"date":"2023-09-11T17:15:59","date_gmt":"2023-09-11T17:15:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-slides-to-25k-as-ftx-reveals-what-assets-it-holds\/"},"modified":"2023-09-11T17:15:59","modified_gmt":"2023-09-11T17:15:59","slug":"bitcoin-slides-to-25k-as-ftx-reveals-what-assets-it-holds","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-slides-to-25k-as-ftx-reveals-what-assets-it-holds\/","title":{"rendered":"Bitcoin slides to $25k as FTX reveals what assets it holds"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694450477977-a50f2a16-109d-4ea6-bdd5-c717668424a6-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694450477977-a50f2a16-109d-4ea6-bdd5-c717668424a6-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694450477977-a50f2a16-109d-4ea6-bdd5-c717668424a6-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694450477977-a50f2a16-109d-4ea6-bdd5-c717668424a6-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Crypto prices dropped after an FTX announcement that showed the value of various crypto assets the collapsed exchange held as of August 31.\u00a0<\/li>\n<li dir=\"ltr\">Bitcoin fell to lows of $25k while ETH, XRP and BNB traded to key support levels.<\/li>\n<\/ul>\n<p dir=\"ltr\">The crypto market slipped into red on Monday to add to the downside pressure that engulfed major caps over the weekend.<\/p>\n<p dir=\"ltr\">As <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-price-outlook-as-eth-xrp-eye-key-support-areas\/\">covered earlier<\/a>, rumours of a potential sell-off for Solana based on bankrupt crypto exchange FTX liquidation of millions of dollars\u2019 worth of SOL had the broader market reacting lower. <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin<\/a>, which an analyst says could trigger a cascade of bloodbath with a dip to $25,200, traded to lows of $25,015 on Binance for its lowest level since mid-June.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib\"><span class=\"fr-img-wrap\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/08\/11\/1694450108243-1f9cd2f6-4a4c-43a7-bda6-b7afd5176be5.png\" class=\"fr-fic fr-dib\" width=\"615\" height=\"267\"\/><span class=\"fr-inner\"><\/p>\n<p dir=\"ltr\">Bitcoin price chart from\u00a0<a href=\"https:\/\/www.tradingview.com\/x\/vb2toMzk\/\" rel=\"noopener noreferrer\" target=\"_blank\">TradingView<\/a><\/p>\n<p><\/span><\/span><\/span>Ethereum slid further below $1,560 with a 3.7% decline, while BNB and XRP dumped 3% and 5% to touch key levels near $200 and $0.45 respectively.\u00a0<\/div>\n<h2 dir=\"ltr\">FTX reveals crypto portfolio<\/h2>\n<p dir=\"ltr\">Crypto exchange <a href=\"https:\/\/coinjournal.net\/news\/tag\/ftx\/\">FTX<\/a> went bankrupt in 2022 \u2013 former CEO Sam Bankman-Fried is facing a criminal trial over the implosion that sent crypto into a downward spiral. As the debtors eye a reimbursement for victims, one of the latest topics around it is the potential dump of billions worth of tokens to the market.<\/p>\n<p dir=\"ltr\">FTX revealed just what assets it currently holds and their nominal value as of August 31. Notably, SOL accounts for the largest percentage at more than $1.16 billion.\u00a0<\/p>\n<p dir=\"ltr\">The exchange held Bitcoin, Ethereum and Aptos worth $560 million, $192 million and $137 million as well as $120 million and $119 million in USDT and XRP. More can be seen as below per this post from Wu Blockchain.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">As of August 31, FTX held a total of US$3.4 billion in crypto assets, including:<br \/>US$1.16 billion SOL<br \/>$560 million BTC<br \/>$192 million ETH<br \/>$137 million APT<br \/>$120 million USDT<br \/>$119 million XRP<br \/>$49 million BIT<br \/>$46 million STG<br \/>$41 million WBTC <br \/>$37 million WETH. Read more\u2026 <a href=\"https:\/\/t.co\/fJ7ntAiEdk\">pic.twitter.com\/fJ7ntAiEdk<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1701249807480741975?ref_src=twsrc%5Etfw\">September 11, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Per the FTX filing, the exchange has another 438 investment portfolios accounting for roughly $4.5 billion. These invested amounts have not been <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1701251541766635749\" rel=\"noopener noreferrer\" target=\"_blank\">added<\/a> to the $7 billion that was earlier announced. Some of the assets still being tallied include from Genesis, Yugalabs, and Paradigm.<\/p>\n<p dir=\"ltr\">Meanwhile, over 36,000 customer claims had reportedly been filed as of August 24, with total claims of $16 billion.\u00a0<\/p>\n<p dir=\"ltr\">With FTX seeking court approval to liquidate the assets and pay creditors, crypto analysts predict a potential market dump. The negative sentiment is what has driven SOL price sharply lower in the past 24 hours and things could get bloody if the anticipated sell-off happens on September 13.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/crypto-slides-as-ftx-reveals-what-assets-it-holds\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Crypto prices dropped after an FTX announcement that showed the value of various crypto assets the collapsed exchange held as of August 31.\u00a0 Bitcoin fell to lows of $25k while ETH, XRP and BNB traded to key support levels. The crypto market slipped [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23370"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23370"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23370\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23371"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}