Crypto investors leave exchanges at record rate

$1.5bn worth of bitcoin sold

Kathleen Gallagher
clock • 1 min read

Crypto investors pulled money at a record rate from exchanges last month (November) as the downfall of FTX and its contagion made them nervous.

According to data from CryptoCompare, investors pulled 91,557 bitcoin, worth almost $1.5bn based on the November average price of $16,400, from exchanges including Binance, Kraken and Coinbase. This is the largest outflows in history, according to the company. October also saw significant outflows at about 75,000 which was preceded by months of inflows or only minor outflows. The report stated it anticipates to see more outflows in coming months. "It is likely that we will see a continuation of this trend as the ‘not your keys, not your coins' narrative takes over crypto markets," it ...

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