The book says Jump was “near the top” of the list of FTX’s 50 “biggest accounts whose owners had been unable to remove their money from the crypto exchange,” Lewis wrote. Jump Trading lost $206 million while its affiliated trading firm, Tai Mo Shan Ltd., lost more than $75 million, according to the book, which cited documents discovered by Constance Wang, ex-chief operating officer of FTX.
A Jump spokesperson replied “no comment” when contacted by CoinDesk.
If accurate, the book underscores the heavy blow Jump endured when FTX collapsed in November. FTX filed for bankruptcy in November and in a court filing revealed that its top 50 creditors, excluding insiders, said they were owed $3.1 billion by the exchange. The largest single claim was $226 million, followed by a $203 million claim. The creditors’ names were redacted.
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Jump was also deeply involved in the failed blockchain project Terra, whose TerraUSD stablecoin and native token LUNA imploded in a spectacular fashion in May 2022, marking the start of a grueling bear market for crypto.
Earlier this year, Bloomberg reported that Jump was retreating from crypto trading in the U.S., while CoinDesk reported that trading platform Robinhood and Jump ended their partnership.
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