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Jump Trading

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cryptocurrency2 years ago•1 min saved

The Aftermath of FTX's Collapse: Losses, Liquidity Gaps, and Ripple Effects

Jump Trading, a major player in the crypto market, reportedly lost nearly $300 million in the collapse of FTX, according to Michael Lewis' book "Going Infinite." The book reveals that Jump was among the top accounts unable to withdraw funds from the crypto exchange. Jump Trading lost $206 million, while its affiliated firm, Tai Mo Shan Ltd., lost over $75 million. FTX filed for bankruptcy in November, with its top 50 creditors claiming $3.1 billion owed by the exchange. Jump Trading was also involved in the failed blockchain project Terra.

via CoinDesk|

#collapse #cryptocurrency #ftx

cryptocurrency2 years ago•1 min saved

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.

via CoinDesk|

#crypto-partnership #cryptocurrency #jump-trading