On August 8, trading firm Jump Trading withdrew $32.6 million in USDC from the cryptocurrency exchange Binance. Analysts at Lookonchain highlighted this transaction.
Jump Trading withdrew 32.6M $USDC from #Binance after they transferred $ETH to #Binance to sell yesterday.
These $USDC may be deposited in #Coinbase (will likely be exchanged for USD).https://t.co/leaQYUaY0C pic.twitter.com/XfKNief7wl
— Lookonchain (@lookonchain) August 8, 2024
They speculate that the assets will be deposited on the Coinbase exchange and subsequently converted into dollars.
According to data from Spot On Chain, the company has been actively moving funds between the exchanges Binance, Bybit, Coinbase, Gate.io, and OKX in recent hours.
The current balance across 20 monitored wallets of Jump Trading stands at $467.1 million, including:
- $256.6 million in USDC;
- $89.6 million in USDT;
- 21,394 WSTETH ($60.8 million);
- 6,079 ETH ($14.7 million);
- 163.5 TBTC ($9.33 million).
Earlier, on August 7, Jump Trading successfully withdrew 11,500 ETH, valued at approximately $29 million, from the liquid staking platform Lido Finance.