Cryptocurrency News

FTX debacle sees Nansen take stock of major exchange onchain holdings


The collapse of cryptocurrency exchange FTX has put industry peers under the microscope with calls for transparent accounts of token holdings and assets under management.

Major cryptocurrency exchanges like Binance, Huobi, OKX and have made efforts to share details of their assets and portfolios to assuage the wider space. This comes after investor confidence has been shaken, with users across the ecosystem moving Bitcoin (BTC) and other tokens off exchanges to avoid potential contagion from the FTX fallout.

Blockchain analytics platform Nansen provides industry insights and is known for its wallet labeling features that track addresses across multiple blockchains. In a series of Tweets posted on Nov. 15, Nansen listed seven major exchanges, their relevant portfolios and explanatory statements of accounts.

Related: Bitfinex CTO releases proof of reserves amid FTX bankruptcy fiasco

The assets and net worth of the exchanges is the sum of holdings in wallet addresses provided by the firms on blockchains that Nansen monitors. The analytics platform also notes that the figures are not an “exhaustive or complete statement of the actual assets/reserves held.”

The exchanges accounted for include Binance,, OKX, KuCoin, Deribit, Bitfinex and Huobi.

Binance, widely regarded as the largest global exchange by transaction volume, holds around $64.3 billion worth of assets across the Bitcoin, Ethereum, TRON and BNB blockchains. This eclipses the other exchanges by a substantial amount.

Bitfinex has the second largest asset holdings in reserve of the seven exchanges according to data provided by the company. $8.23 billion of assets are held across the Bitcoin, Ethereum, Polygon, TRON, Solana, Acala, Avalanche, Cosmos, Fantom, Near, Terra and Terra Classic blockchains.

Huobi’s assets amount to a traced $3.3 billion across eight different chains. OKX reportedly holds $5.84 billion in cryptocurrency assets across the Bitcoin, Ethereum, Polygon, Arbitrum, TRON and Avalanche blockchains. holds an estimated $2.36 billion in assets across seven chains. KuCoin addresses account for $2.65 billion in assets on eight different blockchains and Deribit holds around $1.46 billion worth of assets on the Bitcoin, Ethereum and Solana blockchains.

Nansen co-founder and CEO Alex Svanevik told Cointelegraph that the firm is planning to publish preliminary findings on the FTX situation this week. Nansen previously unpacked onchain findings after the cataclysmic collapse of the Terra ecosystem in May 2022.