Jump Crypto Transfers $15 Million of USD1 to BitGo
JOON HYOUNG LEE
Summary
- Jump Crypto transferred $15 million of USD1 to BitGo in two transactions over the past hour.
- Onchain Lens said the funds were moved to a BitGo hot wallet.
- BitGo supports USD1 issuance and redemption, and the transfer may have been part of fund management such as custody or dollar redemption.
Forecast Trend Report by Period
Jump Crypto, a cryptocurrency market maker, transferred a large amount of the dollar stablecoin USD1 to BitGo.
Onchain Lens said on Nov. 4 that Jump Crypto sent $15 million of USD1 to BitGo in two transactions over the past hour. The funds were moved to a BitGo hot wallet.
BitGo supports USD1 issuance and redemption. The transfer may have been part of fund management, such as custody or dollar redemptions.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul