FTX Bitcoin stash worth same as Mt. Gox 840K BTC before hack

FTX Bitcoin stash worth same as Mt. Gox 840K BTC before hack

If FTX is sparking new Bitcoin (BTC) bear market lows, BTC price action has further to fall to match Mt. Gox.

Data from on-chain analytics firm Glassnode confirms that the “Mt. Gox bear market” almost a decade ago still beats the 2022 lows.

FTX vs. Mt. Gox: Same, same but different

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With the fallout from the FTX bankruptcy scandal still unfolding, questions remain over how many major crypto entities will be affected and how big industry losses will be.

BTC/USD fell over 25% last week as the ramifications became known and has failed to recover much lost ground.

At the same time, multiple comparisons to Mt. Gox have emerged: alleged mismanagement, poor security and insider trading activity have all been cited as examples.

The raw data, however, reveals some interesting additional numbers to

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