Jump Crypto liquidated $46.7 million worth of Ethereum (ETH) by moving it to centralized exchanges like Binance, OKX, Bybit, Coinbase, and Gate.io
This large-scale liquidation contributed to a 20% drop in Ethereum's price, hitting a seven-month low
Jump Crypto still holds 37,600 wrapped staked Ethereum (wstETH) and 11,500 staked Ethereum (stETH), which are in the process of being unstaked
The liquidation comes amid increased scrutiny from the Commodity Futures Trading Commission (CFTC) on Jump Trading's activities
The crypto community is closely watching these moves, speculating on the reasons behind the liquidation, including potential margin calls or regulatory pressures