Cryptocurrency giant Jump Crypto denied the rumors circulating in the market and announced that it will not cease its operations.
The trading firm responded in a tweet to social media speculation that it would be shutting down soon, saying it wanted to “clarify a few points” as rumors were “floating”.
Cryptocurrency Giant Announces It Will Not Shut Down
The company said in its tweet:
“Given the rumors going around, we want to clear up a few things.
Jump Crypto is not closing. We believe we are one of the best capitalized and liquid firms in the cryptocurrency space.
We are still actively investing and trading, so please get in touch if you are looking for funds.”
Jump Crypto, the crypto-exclusive arm of Chicago-based trading firm Jump Trading, has worked with some of the most prominent firms and individuals in the crypto space over the years.
Given the rumors flying around, we want to debunk a few things.
Jump Crypto is not shutting down. We believe we’re one of the most well-capitalized and liquid firms in crypto.
We are still actively investing and trading, so if you’re looking for funding, please get in touch.
— jump_crypto 🔥💃🏻 (@jump_) November 17, 2022
Jump Crypto Allegedly Linked To FTX
Jump and FTX have a long history and the relationship between them is very deep. However, these links have not always been viewed positively.
Indeed, Jump Crypto has been accused of collaborating with Sam Bankman-Fried’s Alameda Research on seed funding rounds and yield farming investments.
Jump also allegedly pulled $300 million in assets from FTX the day before the company stopped withdrawals. This wallet will keep USDT and USDC to another two for a few days. Ethereum forwarded to the address. It has also transferred thousands of ETH to at least two other wallets.
In February 2022, Jump Crypto paid $320 million to save the cryptocurrency bridge Wormhole after hackers stole $325 million worth of Wrapped Ethereum from Wormhole in Solana.
*Not investment advice.
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