Centralized exchanges are holding significantly fewer bitcoins (BTC) than they did three years ago. Cryptoquant.com data reveals that on September 1, 2020, trading platforms had a reserve of 2.828 million BTC. Fast forward roughly three years, and that number has dwindled to 2.024 million, marking a decrease of 804,000 BTC. Although BTC holdings on exchanges have consistently decreased over these years, the FTX debacle triggered a substantial decline.