I feel like most of these exchanges don't have much of a reserve, which is why they are trading between each other to increase the amount of reserve they have for a short time to show that proof. Most likely what happened to FTX could happen to any of the crypto exchanges if someone decided to sell enough tokens.,(reply>), I'd be amazed if Binance wasn't exactly the same empty shell that FTX proved to be, given how hard they tried to pull the wool over regulatory bodies, and all of the crime and sanctions avoidance they've been caught facilitating.,(reply>), ya,,  they get to show on some narrow documents they have x amount of cash flow, but it's usually a big % of the same cash going round and round. the cashflow is never the idle reserve. loan out the reserve, its now not liquid, it's just a note but theoretically you're worth billions (actually its the investors money, not theirs) scummy and allowed to go on probably for another 5+ years as exchanges skim off the fees for themselves<br>ghost coin could be a new term