Information shared by Lookonchain shows that since it began selling Ethereum on July 24, Jump Trading has withdrawn 606 million USDC from Binance and deposited 440 million of them into the Coinbase exchange. It is speculated that these USDC may be liquidated through Coinbase at a ratio of 1:1.
According to previous reports by Zombit, Jump Trading sold a large amount of Ethereum last weekend, and BitMEX co-founder Arthur Hayes also posted yesterday:
"My friends in the traditional financial world told me that something big happened and they are selling off all cryptocurrencies. I'm not sure if this is true and I won't name it, but if you hear anything, please let everyone know! "
There is widespread speculation that the institution Arthur Hayes is referring to is likely Jump Trading’s cryptocurrency arm, Jump Crypto.
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