Jump Trading’s Wallets Under Scrutiny After Crypto Selloff

As crypto investors nurse their wounds following a nasty selloff early in the week, many traders are scrutinizing the wallets of Jump Trading in search of answers.

The value of cryptocurrencies held by digital wallets believed to belong to Jump dropped by around $247 million in total between August 4 and 8, according to data from wallet tracker Arkham. In recent weeks, Jump has sent hundreds of millions of dollars worth of Ether to the so-called hot wallets of exchanges such as Binance, OKX and Coinbase, according to the researcher. A move to a hot wallet often suggests an owner is planning to sell.