Internet reports that the FTX losses would force the closure of Jump Trading Group's cryptocurrency branch, Jump Crypto, have been debunked.
Jump Crypto would not fail, the company claimed in a tweet on November 17.
Given the rumors flying around, we want to debunk a few things.
— jump_crypto 🔥💃🏻 (@jump_) November 17, 2022
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.
On November 13, the cryptocurrency trading company tweeted that it was shocked by the developments surrounding FTX but reassured its clients that their exposure to FTX had been managed in accordance with their risk plan and that they were still financially sound.
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.
— jump_crypto 🔥💃🏻 (@jump_) November 12, 2022
The cryptocurrency community continues to move forward with great caution in the wake of FTX's demise and the effects that followed, despite Jump Crypto's claims to the contrary. The exchange where Sam Bankman-Fried's business was previously located is still a target for the authorities.
