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I think it's worth being mindful of who effectively owns the bridge. Jump acquired certus one, who developed the wormhole. Jump has invested quite heavily in t
by tradingthrwaway 5y ago
I think it's worth being mindful of who effectively owns the bridge.
Jump acquired certus one, who developed the wormhole. Jump has invested quite heavily in the solana ecosystem, so while $300mm is a lot of money, it's a small price to pay for a firm of their size.
- danielvf 5y agoIt's also likely that the majority of the money on the bridge was theirs to begin with.
- qeternity 5y ago$300 is not a small sum for Jump...this isn't FAANG we're talking about.
- tradingthrwaway 5y agoMaybe not "small", but surely a sum they can put up without thinking twice. They're a top trading firm, whose competitors have spent $300mm to run hundreds of miles of cables to save microseconds in latency.
- qeternity 5y ago> They're a top trading firm, whose competitors have spent $300mm to run hundreds of miles of cables to save microseconds in latency. It's microwave towers, and it's to save milliseconds. You're not dealing in mics until you're in the colo. But those are investments, which will generate huge returns. Throwing $300m to paper over a hack isn't remotely the same.
- tim333 5y agoIt's a bit hard to tell how much money/assets they have as they are private but they employ 700 people on trading crypto. I imagine they have made a few bob.