Jump Crypto denies rumors that it intends to wind down due to FTX losses
Jump Crypto, a division of the Jump Trading Group, has denied rumors circulating online that it intends to wind down operations due to its exposure to FTX losses.
According to a tweet shared by the company on Nov. 17, “Jump Crypto is not shutting down. We believe we’re one of the most well-capitalized and liquid firms in crypto.” adding that i still in the business of “investing and trading.”
Given the rumors flying around, we want to debunk a few things.Jump Crypto is not shutting down. We believe we’re one of the most well-capitalized and liquid firms in crypto.We are still actively investing and trading, so if you’re looking for funding, please get in touch.
In a tweet on Nov. 12, the crypto company expressed shock at the unfolding events with FTX and assured its clients that its “exposure to FTX was managed in accordance with our risk framework and we remain well capitalized.”
1/ We, like all of you, were shocked by the events that unfolded over the past week. Jump's exposure to FTX was managed in accordance with our risk framework and we remain well capitalized.
Despite Jump Crypto’s denial, FTX’s collapse and the fallout from it have left the crypto community skeptical. Market analyst Knower shared in a tweet: “Jump crypto will literally tweet that they’re fine and aren’t shutting down but 157 reply guys and threadooooors will still claim they’re lying (because SBF said the same thing).”
Jump crypto will literally tweet that they’re fine and aren’t shutting down but 157 reply guys and threadooooors will still claim they’re lying (because SBF said the same thing)Beginning to think people on twitter just want to watch the world burn and don’t care about crypto
Related: FTX fallout continues: BlockFi reportedly mulling
Read more on cointelegraph.com
