Jump Trading

Jump Trading withdrew 32.6 million USDC from Binance, indicating a liquidity strategy adjustment. 

Jump Trading Withdraws 32.6 Million USDC from Binance

<img src="https://static.bittime.com/cms-static/upload/Jump_Trading_Withdraws_32_6_Million_USDC_from_Binance_7d97d1502b.webp" alt="Jump Trading Withdraws 32.6 Million USDC from Binance" width="2048" height="1152"><meta charset="utf-8"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a> -&nbsp;Jump Trading withdrew 32.6 million USDC from Binance, indicating a liquidity strategy adjustment. This withdrawal fuels market speculation and could impact crypto price fluctuations and investor sentiment.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/staking?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_staking_coin_8abe277d88.webp" alt="staking koin di bittime" width="2985" height="620"></a><h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Jump Trading Withdraws 32.6 Million USDC</h2>The well-known trading company Jump Trading withdrew 32.6 million USDC from Binance on August 8, 2024. This action caught the attention of market watchers and crypto speculators because it was done the day before after Jump Trading transferred ETH to Binance for sale. Shenzhen TechFlow first reported this data.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Blog_7d687b658d.webp" alt="cara trading di bittime" width="2985" height="620"></a><h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Jump Trading Strategic Steps</h2>Reports show that Jump Trading transferred 11,500 ETH to the selling address and applied to redeem 19,049 stETH into ETH. The ETH sales and USDC withdrawals appear to be part of the company's broader liquidity and asset management strategy.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog/jump-trading-lookonchain">Jump Trading Lookonchain Earns $116.7 Million</a><h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Alleged USDC Jump Trading Will Be Stored on Coinbase</h2>It is likely that USDC withdrawn from Binance will be stored at Coinbase and possibly exchanged for USD as Coinbase is one of the largest crypto exchanges in the United States with high liquidity and direct access to fiat markets. This allows Jump Trading to optimize its financial portfolio.<h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Impact on Crypto Markets</h2>A withdrawal of this size from Binance could have several important implications:<h3 style="line-height:1.7999999999999998;margin-bottom:4pt;margin-top:16pt;text-align:justify;" dir="ltr">Price Fluctuations</h3>Selling large amounts of ETH can cause price fluctuations in the crypto market, especially if done over a short period of time.<h3 style="line-height:1.7999999999999998;margin-bottom:4pt;margin-top:16pt;text-align:justify;" dir="ltr">USDC movement&nbsp;</h3>The withdrawal of large amounts of USDC from Binance and its potential storage on Coinbase could indicate a change in Jump Trading's investment strategy, which could affect market sentiment.<h3 style="line-height:1.7999999999999998;margin-bottom:4pt;margin-top:16pt;text-align:justify;" dir="ltr">Investor Sentiment</h3>This move could be seen as a sign of a major move in the investment strategies of major companies in the crypto industry, which could influence the beliefs and behavior of other investors.<h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Conclusion</h2>One example of the strategic steps taken by Jump Trading in managing its liquidity and asset portfolio is the withdrawal of 32.6 million USDC from Binance.&nbsp;&nbsp;This move may indicate a greater adjustment of financial strategies amidst the changing dynamics of the crypto market, as there is a possibility of exchanging USDC to USD via Coinbase.&nbsp;&nbsp;Investors and market watchers should pay attention to further developments if they want to know how this move will affect the crypto market as a whole.<h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:10pt;text-align:justify;" dir="ltr">How to Buy Crypto on Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_cara_beli_ab926002c1.webp" alt="cara beli crypto di bittime" width="2985" height="620"></a>You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy/?content_id=news&amp;cn=400001">Complete Guide How to Buy Crypto on Bittime</a>.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?content_id=news&amp;cn=400001"> of&nbsp;Bitcoin (BTC) price</a>,&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?content_id=news&amp;cn=400001">Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?content_id=news&amp;cn=400001"> Solana (SOL),</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.

thumbnail_Jump Trading Withdraws 32.6 Million USDC from Binance

FTX rejected claims from Jump Trading subsidiary Tai Ho Shan, which sought $264 million in damages for 800 million Serum tokens (SRM). 

FTX Rejects Jump Trading's Claim

<img src="https://static.bittime.com/cms-static/upload/FTX_Rejects_Jump_Trading_s_Claim_2bff527499.webp" alt="FTX Rejects Jump Trading's Claim.webp" width="2048" height="1152"><meta charset="utf-8"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a> - FTX has rejected claims from Jump Trading subsidiary Tai Ho Shan, which is seeking $264 million in damages for 800 million Serum tokens (SRM). This claim was filed based on allegations that Alameda failed to deliver promised tokens.&nbsp;&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Lucky_Draw_Bittime_072d476ddf.jpg" alt="Lucky Draw Bittime" width="746" height="155"></a><h2 style="line-height:1.38;margin-bottom:4pt;margin-top:18pt;text-align:justify;" dir="ltr">Charges Filed Jump Trading&nbsp;&nbsp;</h2>Tai Ho Shan claimed that Alameda did not fulfill its obligations to deliver the promised 800 million SRM tokens, so they demanded compensation of $264 million.&nbsp;In court documents, Jump Trading used an options model to calculate their losses, which took into consideration the market price of SRM on the date of the bankruptcy filing, the price of the repayment option, SRM's implicit volatility, and the interest rate on the loan.However, the FTX-Alameda management team rejected this claim and stated that the loan was never initiated because the SRM tokens were never delivered.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/staking?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Staking_Meme_Coin_3f18ac9bb9.jpg" alt="Staking Meme Coin" width="2985" height="620"></a>&nbsp;<h2 style="line-height:1.38;margin-bottom:4pt;margin-top:18pt;text-align:justify;" dir="ltr">Questions Regarding Valuation and Potential Fraud</h2>FTX-Alameda also questioned the valuation amount proposed by Jump Trading, and said that Tai Ho Shan's loss calculation was completely unprovable and was based on a model option who is disabled.&nbsp;Additionally, there is no explanation or documentation to support the claim. FTX lawyers also alleged that Tai Mo Shan may have been involved in fraudulent transfers.&nbsp;&nbsp;The lawyer also highlighted that the Master Loan Agreement and Loan Confirmation state that Tai Mo Shan will receive 800 million SRM tokens without fees and interest, which is considered suspicious.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/airdrop/Hamster_Kombat?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Airdrop_Hamster_Kombat_Bittime_7831a61198.webp" alt="Airdrop Hamster Kombat Bittime.webp" width="1600" height="332"></a><h2 style="line-height:1.38;margin-bottom:4pt;margin-top:18pt;text-align:justify;" dir="ltr">Token Serum (SRM)</h2>SRM is the native token of DEX Serum. At its peak in September 2021, SRM's price reached over $12.50 with trading volume reaching $1.2 billion.&nbsp;This surge created many millionaires in DEX Serum, which ultimately worried Sam Bankman-Fried, founder of FTX-Alameda. He is worried that employees will not work hard. However, SRM's value is now only about 3 cents, well below its peak.<h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Serum Goes Bankrupt After FTX</h2>DEX Serum collapsed after FTX went bankrupt in November 2022. At that time, insiders said that the exchange was not actually decentralized because all orders came from FTX.&nbsp;Market data shows that the 800 million SRM tokens claimed by Tai Ho Shan would cover about 80% of the total of around 1 billion SRM in existence and more than 372.7 million current circulating supply. The token was scheduled to have a maximum supply of over 10.1 billion tokens, but this stalled due to its crash in 2022.These claims and disputes demonstrate the complexity and risks involved in the crypto market, especially in bankruptcy situations. FTX's rejection of Jump Trading's claims will likely have a major impact on FTX-Alameda's bankruptcy and asset settlement process.&nbsp;&nbsp;<h2 style="line-height:1.38;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">How to Buy Crypto with Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Cara_Beli_Crypto_di_Bittime_8a66f330dc.jpg" alt="Cara Beli Crypto di Bittime" width="776" height="273"></a>You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;</a>price&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?cn=400001">&nbsp;Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?cn=400001">&nbsp;Solana (SOL)</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.

Jump Trading Withdraws 32.6 Million USDC from Binance

FTX Rejects Jump Trading's Claim to Compensate 800 Million SRM Tokens