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Jump itself just had $320M laying around?

by beaned 5y ago

kccqzy 5y ago
That's quite possible, judging by the huge bonuses a few friends working there got as a SWE.
e4e78a06 5y ago
Jane Street made $8bn in 2020 [1]. $320M is probably peanuts in exchange for maintaining the stability of a market they dominate in capturing arbitrage money on. [1]: https://www.bloomberg.com/news/articles/2021-06-18/jane-street-and-drw-traders-made-billions-in-pandemic-markets https://www.bloomberg.com/news/articles/2021-06-18/jane-stre...
idohft 5y ago
Jump is very profitable.
nexuist 5y ago
Jump Trading Group isn't some rando crypto org, it's a legit hedge fund established in 1999. Supposedly it has at minimum $150M AUM[1] but because it's a private company nobody actually knows the real amount. We can predict that they probably have a few billion in cash lying around if they've been successfully trading for over 20 years. Jump Crypto, the group that bailed out Wormhole, is their crypto trading division. [1] https://wallmine.com/fund/3mg/jump-trading-llc https://wallmine.com/fund/3mg/jump-trading-llc
- joezydeco 5y ago
  Jump is a black hole. I had a friend go there 20 years ago and haven't heard from him since. But he's got a lovely mansion on the North Shore.
- chrisco255 5y ago
  $150M is 15% of a billion. Why would they have a few billion in cash if they only have $150M? Numbers seem off.
  - nexuist 5y ago
    The numbers are off because it is a private company. They have $150M in disclosed assets, the true number may be magnitudes higher and probably is if the company can cough up $320M on a dime. Unless you have insider trading information there is no way to know Jump's real AUM.
x86_64Ubuntu 5y ago
And $300M available for use within 24 hours. I'm sure Google, Netflix and Walmart all have $300M+ they wouldn't care if it went missing. But all the paper and presentations needed to touch a tenth of that sum would take months. But this guys had it on hand as if they were quarters at an arcade.

Jump itself just had $320M laying around?

by beaned 5y ago

Jump itself just had $320M laying around?

kccqzy 5y ago

That's quite possible, judging by the huge bonuses a few friends working there got as a SWE.

e4e78a06 5y ago

Jane Street made $8bn in 2020 [1]. $320M is probably peanuts in exchange for maintaining the stability of a market they dominate in capturing arbitrage money on. [1]: https://www.bloomberg.com/news/articles/2021-06-18/jane-street-and-drw-traders-made-billions-in-pandemic-markets https://www.bloomberg.com/news/articles/2021-06-18/jane-stre...

idohft 5y ago

Jump is very profitable.

nexuist 5y ago

Jump Trading Group isn't some rando crypto org, it's a legit hedge fund established in 1999. Supposedly it has at minimum $150M AUM[1] but because it's a private company nobody actually knows the real amount. We can predict that they probably have a few billion in cash lying around if they've been successfully trading for over 20 years. Jump Crypto, the group that bailed out Wormhole, is their crypto trading division. [1] https://wallmine.com/fund/3mg/jump-trading-llc https://wallmine.com/fund/3mg/jump-trading-llc

joezydeco 5y ago
Jump is a black hole. I had a friend go there 20 years ago and haven't heard from him since. But he's got a lovely mansion on the North Shore.
chrisco255 5y ago
$150M is 15% of a billion. Why would they have a few billion in cash if they only have $150M? Numbers seem off.
- nexuist 5y ago
  The numbers are off because it is a private company. They have $150M in disclosed assets, the true number may be magnitudes higher and probably is if the company can cough up $320M on a dime. Unless you have insider trading information there is no way to know Jump's real AUM.

x86_64Ubuntu 5y ago

And $300M available for use within 24 hours. I'm sure Google, Netflix and Walmart all have $300M+ they wouldn't care if it went missing. But all the paper and presentations needed to touch a tenth of that sum would take months. But this guys had it on hand as if they were quarters at an arcade.