According to Blockworks reports, according to an FTX internal chat transcript submitted by the US Commodity Futures Trading Commission (CFTC) on Wednesday, on the night of November 6, when FTX executives monitored changes in the FTT price and the wider spread of the digital asset market. When it came to the effect, an unnamed Alameda executive said, "I'm surprised BTC didn't fall more," to which former Alameda Research CEO Caroline Ellison responded, "Me too," and SBF agreed. While Bitcoin was only down 2% around these news, Bitcoin itself lost more than $100 billion in market cap in the week before FTX filed for bankruptcy, falling from $21,300 to $16,000 at its worst on November 10th. Below the U.S. dollar, losses were as high as 25%.