Jump Crypto moves $40.5M in ETH after selling stETH

Jump Crypto has begun selling ETH after swapping 11,802 stETH ($40.5 million) to ETH and transferring it to an anonymous address, with plans to deposit it into exchanges. According to on-chain analyst @EmberCN on X, this ETH is part of the 120,000 ETH Jump Crypto recovered in February 2023 from the Wormhole hack, after the firm previously covered the loss with its own funds.