One of the biggest Market Makers is dumping its crypto holdings🛑
A series of bad events in 4 parts 👇
♦️ The CFTC started an investigation into Jump Trading subsidiary's activities.
♦️ Jump trading president resigns shortly after that
♦️ Jump trading started redeeming wstETH after that.
♦️ Since July 25, they redeemed and sold over 80,000 ETH.
This caused an #ETH dump along with alts weakness.
It seems like Jump trading is completely exiting the market.