According to blockchain data, Arkham Intelligence has identified that addresses believed to be owned by Jump Crypto have received approximately $300 million in incoming funds in the past day.
This is largely from addresses categorized as exchange wallets by Arkham Intelligence.
In the same time frame, approximately $80 million has been transferred out of Jump Crypto’s wallets, mainly to major exchanges like Coinbase, Gate.io, and Binance.
The movement of these funds is still ongoing.
Ether seems to be the primary asset being moved, with evidence presented by user EmberCN showing that Jump Crypto has been converting over $500 million worth of Lido’s wstETH into Ether since July 25. This coincides with the launch of US-based spot Ether ETFs on July 23.
