FTX owes customers and other lenders, close to 83,000 BTC but does not have any left on the books. If it were to fulfill its obligations, it would require buying and sending $1.4 billion worth of BTC. This is obviously not going to happen but at least there isn't any BTC to dump.
FTX has, in essence, been responsible for liquidating 83,000 customer's BTC. This sell pressure was the product of illegal use of funds. That's 83,000 BTC that were intended to be held but has been dumped on the market.
How many other exchanges have leveraged customers' assets and have been liquidated?
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