PANews reported on December 1 that according to the Wall Street Journal, as FTX fell into chaos and bankruptcy in November, cryptocurrency investors are doing their best to withdraw funds. According to data from research firm CryptoCompare, cryptocurrency fund asset management companies such as Grayscale Investments and CoinShares International saw investor withdrawals of $19.6 billion in November. This is equivalent to 14.5% of the total assets managed by these funds, bringing the total assets under management to the lowest point since December 2020.
CryptoCompare said in a report that a major concern is about the exposure of Grayscale parent company Digital Currency Group and Grayscale sister company Genesis Trading to FTX and the impact this could have on the wider market.