Share this article
Jump Trading Lost Almost $300M in FTX’s Collapse, Michael Lewis Says in ‘Going Infinite’
This makes the trading giant one of FTX’s top creditors, Lewis wrote, citing documents from the crypto exchange’s former chief operating officer, Constance Wang.
Updated Oct 5, 2023, 3:44 p.m. Published Oct 3, 2023, 6:52 p.m.
Large crypto market making firm Jump Trading lost nearly $300 million in the collapse of FTX, according to Michael Lewis’ new book “Going Infinite” about Sam Bankman-Fried and the failure of his crypto exchange.
The book says Jump was “near the top” of the list of FTX’s 50 “biggest accounts whose owners had been unable to remove their money from the crypto exchange,” Lewis wrote. Jump Trading lost $206 million while its affiliated trading firm, Tai Mo Shan Ltd., lost more than $75 million, according to the book, which cited documents discovered by Constance Wang, ex-chief operating officer of FTX.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
A Jump spokesperson replied “no comment” when contacted by CoinDesk.
If accurate, the book underscores the heavy blow Jump endured when FTX collapsed in November. FTX filed for bankruptcy in November and in a court filing revealed that its top 50 creditors, excluding insiders, said they were owed $3.1 billion by the exchange. The largest single claim was $226 million, followed by a $203 million claim. The creditors’ names were redacted.
Read CoinDesk's full Sam Bankman-Fried trial coverage. Subscribe to The SBF Trial, a free daily newsletter.
Jump was also deeply involved in the failed blockchain project Terra, whose TerraUSD stablecoin and native token LUNA imploded in a spectacular fashion in May 2022, marking the start of a grueling bear market for crypto.
Earlier this year, Bloomberg reported that Jump was retreating from crypto trading in the U.S., while CoinDesk reported that trading platform Robinhood and Jump ended their partnership.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
