Recent data from Arkham indicates that the address of the third largest Bitcoin holder bc1ql49ydapnjafl5t2cp9zqpjwe6pdgmxy98859v2 is controlled by market maker Jump Trading and stored on Robinhood’s custody service platform. In the past three months, this address has accumulated a total of 118,300.2 BTC, which is equivalent to approximately $30.8 billion USD.
In addition, data from BitInfoCharts provides insight into the dominant Bitcoin depository addresses.
One of Binance’s cold wallets, with the address 34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo, contains a significant amount of 248,597 BTC. Similarly, Bitfinex, with its cold wallet address bc1qgdjqv0av3q56jvd82tkdjpy7gdp9ut8tlqmgrpmv24sq90ecnvqqjwvw97, also holds an amount of 178,010 BTC. These two addresses represent some of the largest Bitcoin holdings.
A prominent yet enigmatic cryptocurrency player, Jump Crypto operates as a major division of the traditional quantitative trading powerhouse, Jump Trading Group. The company has been linked to major crypto events, including the Terra Luna crash and the bankruptcy of FTX.
In November 2022, rumors suggested that Jump Crypto may cease operations due to potential FTX-related losses. However, on November 17, Jump Crypto quickly dispelled those rumors via a tweet, highlighting their robust financial position and confirming their status as one of the best capitalized entities in the crypto space. They further emphasized that their dealings with FTX were well within their risk parameters.
Fast forward to March 3, 2023, Jump Crypto showed its prowess by tackling the February 2022 Wormhole Exploit. Using their smart contracts, they managed to recover about $195 million in stolen Ethereum. Working with Oasis, they have modified the smart contract logic on the Oasis network, ensuring the safe return of 120,000 stolen wrapped ETH. While this move underscores Jump Crypto’s capabilities, it also raises concerns about the potential misuse of such strategies in the DeFi sector, raising questions about the industry’s trustworthiness.
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