Robinhood Ends Crypto Partnership with Jump Trading: Source

Robinhood and Jump Trading, the firm that powered Robinhood's entry into the crypto market, are no longer doing business together, according to a source. Robinhood's crypto business relies on market-making firms to facilitate its trading volume, but Jump has reportedly been distancing itself from the U.S. market due to increased regulatory scrutiny. On-chain data suggests the split occurred in early July. Robinhood is now working with other market-making firms, such as B2C2, for its crypto flow. The reasons behind the end of the partnership are unclear, but the U.S. government's crypto crackdown may have played a role. Jump was instrumental in supporting Robinhood's crypto ambitions during the 2021 bull market.