The growth of Bitcoin and crypto exchanges over the years reflects the industry’s evolution. Exchanges have been the most critical businesses supporting the blockchain and crypto protocols. In addition, the exchanges, led by the top figures in the industry, house most of the iconic brands in the crypto ecosystem.
Since the early days of Bitcoin till now, crypto exchanges have evolved and grown in many ways, gaining users’ trust. However, things have turned sour within the twinkle of an eye, and users have lost faith in crypto exchanges. The FTX collapse has spread its contagion across the crypto space, pulling most crypto exchanges down.
Bitcoin Records Highest Exchange Outflow Since 2018
This week recorded a massive outflow of Bitcoin from crypto exchanges after the collapse