原推:@jasonmschiff An explanation is that the Bitcoin (on FTX) had already been sold (and used to buy FTT etc). The disappearance of on-paper bitcoin that didn’t exist, reduces apparent supply.
Contrast to Mt. Gox where the underlying assets were Bitcoin, that flooded into the market on the hack.
https://twitter.com/wintonARK/status/1600196286988570625