FTX lost 94% of its token value and locked user funds. To protect yourself, use CoinMarketCap's Exchanges tab to find platforms with verified reserve badges, like Binance and Coinbase, which publicly disclose audited holdings.
Lost millions in this crypto FTX token and the FTX exchange. Here's how to avoid losing your money in a situation like this. As you can see, that thing dropped off a cliff, 94% down, and everybody's money is locked in there. So one way you can help prevent this from happening to you and having your money in bad exchanges like FTX is go to CoinMarketCap and go on the exchanges tab right there. This is gonna bring up all of the top exchanges in the world. As you can see, Binance is number 1, then Coinbase. And what you're going to do is look for this little logo right there, the coins with the checkmark thing right there. That means that this exchange has provided reserve data. So their reserves, they have provided it to CoinMarketCap and it's verified, and you can publicly view it and make sure they're not doing shady stuff like FTX. See exactly what they're holding their reserves in, and this can prevent you from having your money in any bad exchanges.
