Mt. Gox, a bitcoin exchange located in Shibuya, Tokyo, Japan, was responsible for handling more than 70% of all bitcoin transactions worldwide by early 2014. However, in the same year, it abruptly ceased operations when it was revealed that it was involved in the loss or theft of hundreds of thousands of bitcoins, which were worth hundreds of millions of US dollars at the time. As a result, Mt. Gox suspended trading, closed its website and exchange service, and filed for bankruptcy protection from creditors. The company began liquidation proceedings in April 2014, and although 200,000 bitcoins have since been recovered, it was initially unclear whether the disappearance was due to theft, fraud, mismanagement, or a combination of these factors. However, new evidence presented in April 2015 by Tokyo security company WizSec suggested that most or all of the missing bitcoins were stolen from the Mt. Gox hot cryptocurrency wallet over time, starting in late 2011.

In the context of cryptocurrency, a "whale" is a term used to describe an individual or entity that holds a large amount of a particular cryptocurrency. The term "whale" is derived from the fact that these individuals or entities are considered to be the "big fish" in the cryptocurrency market, due to the significant impact they can have on the price of a particular coin.

Whales are often seen as a double-edged sword in the cryptocurrency market. On one hand, their large holdings can provide stability to a particular coin or token, as they are able to absorb large sell orders without causing significant price drops. On the other hand, whales can also manipulate the market by buying or selling large amounts of a particular coin, which can cause significant price fluctuations and volatility.

Whales are often the subject of speculation and scrutiny in the cryptocurrency community, as their actions can have a significant impact on the market as a whole. Some traders and investors try to follow the movements of whales in order to gain insight into market trends and potential price movements.

It is important to note that not all large cryptocurrency holders are necessarily whales. Some individuals or entities may hold large amounts of a particular coin for legitimate reasons, such as long-term investment or strategic positioning. However, when a large holder begins to actively manipulate the market, they may be considered a whale.

CEXs, or centralized exchanges, are cryptocurrency exchanges that are operated and managed by a central authority or organization. These exchanges function as a platform for users to buy, sell, and trade cryptocurrencies, as well as to store their digital assets.

CEXs are the most common type of cryptocurrency exchange, and they are often the first choice for new investors and traders due to their user-friendly interfaces and easy-to-use features. However, they also have some disadvantages, which include:

Centralized control: CEXs are run by a central authority, which means that users have to trust the exchange to manage their funds and execute trades. This can be a cause for concern, as exchanges have been hacked in the past, resulting in the loss of user funds.

Limited privacy: CEXs require users to provide personal information, such as their name, address, and ID, in order to comply with KYC (know your customer) and AML (anti-money laundering) regulations. This can compromise user privacy and anonymity.

Limited coin selection: CEXs typically support a limited number of cryptocurrencies, which means that users may not be able to trade all the coins they are interested in.

High fees: CEXs often charge high fees for trading and withdrawing funds, which can eat into profits and make it difficult for small investors to get started.

Despite these drawbacks, CEXs remain a popular choice for many cryptocurrency users, as they offer a convenient and accessible way to buy, sell, and trade digital assets. However, it is important for users to exercise caution when using CEXs, and to always do their own research before investing in any cryptocurrency.

Jump Trading is a Chicago-based proprietary trading firm that specializes in a variety of financial markets, including cryptocurrencies. The firm was founded in 1999 and has since become one of the largest high-frequency trading firms in the world.

Jump Trading has been active in the cryptocurrency market since 2017, when it began trading Bitcoin futures on the Chicago Mercantile Exchange (CME). Since then, the firm has expanded its cryptocurrency trading operations to include a wide range of digital assets, including Bitcoin, Ethereum, and Litecoin.

The firm's trading strategies are based on a combination of quantitative analysis, algorithmic trading, and machine learning. Jump Trading uses advanced technology and data analysis to identify market trends and execute trades at lightning-fast speeds, often in fractions of a second.

Jump Trading's involvement in the cryptocurrency market has been viewed by some as a positive development, as it has brought increased liquidity and stability to the market. However, others have raised concerns about the potential for high-frequency trading firms to manipulate the market and exacerbate volatility.