Jump Crypto was one of the most active traders on Sam Bankman-Fried’s FTX and Do Kwon’s Terra/Luna/Anchor platforms. However, after losing at least $300 million after the collapse of FTX and untold civil ramifications for its role in Terra LUNA’s demise, Jump’s crypto heyday has passed.

It has liquidated various DeFi positions on platforms like Lido and is sending tens of millions of dollars in proceeds to centralized exchanges.

Jump is facing at least two class action lawsuits and a Commodity Futures Trading Commission (CFTC) investigation. Blockchain evidence from the weekend indicates that it might be trying to raise cash.

According to work sponsored by Bitget, researchers claim to have deanonymized wallets belonging to Jump that have redeemed over half a billion dollars worth of Lido’s wrapped staked ether (wstETH) and sent tens of millions of dollars to centralized exchanges.

Other rumors are circulating that Jump is shuttering its market-making business altogether. These are seconded by RealVision’s Raoul Pal.