Bitcoin Plunges to $25k as FTX Reveals Assets Holdings


Crypto prices dropped on Monday, adding to the bearish pressure that had been engulfing major coins over the weekend. This was due to rumours of a potential sell-off for Solana based on bankrupt crypto exchange FTX liquidating millions of dollars’ worth of SOL.

Bitcoin fell to its lowest level since mid-June, trading to lows of $25,015 on Binance, while Ethereum, XRP and BNB traded to key support levels.

FTX revealed what crypto assets it held and their nominal value as of August 31. SOL accounted for the largest percentage at more than $1.16 billion. The exchange also held Bitcoin, Ethereum, Aptos, USDT, XRP, BIT, STG, WBTC and WETH.

The exchange has another 438 investment portfolios accounting for roughly $4.5 billion. Meanwhile, over 36,000 customer claims had been filed as of August 24, with total claims of $16 billion.

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