Crypto exchange reserves have been cast into the spotlight following the FTX collapse. The composition of those reserves has also come into question.
Crypto exchanges have been clamoring to release their reserves data. But like most things in the industry, there are a lot of discrepancies between them.
FTX and Alameda relied too heavily on their own FTT token, which ultimately catalyzed its demise.
Crypto trader John Brown looked into various crypto exchanges’ reserves. What he found was quite a surprise, to say the least.
Source: https://beincrypto.com/crypto-exchange-reserves-rely-own-tokens/