Key takeout
- Jump trading is expanding US crypto operations and increasing staffing after a period of existence declined due to regulatory uncertainty.
- The company is known for its Solana Ecosystem projects, increasing the employment of US crypto engineers and policy experts.
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Crypto's highly-reputable market maker Jump Trading is reviving its US digital asset desk after reducing the period of time it reduced its presence in the market due to regulatory uncertainty.
The company is trying to step up digital asset transactions and hire crypto engineers when restructuring its US crypto team, according to the report. They also plan to establish US policy and government liaison positions to support new market activities.
The market-making giant was linked to two of the most infamous collapses of the crypto, two that wiped out investor assets in Terraus (UST) Stubcoin in 2022 and wiped out FTX earthquake fallout that year.
Taimoshan, a subsidiary of Jump Crypto, part of the Jump Trading Group, was under scrutiny on suspect charges in the event that tore Terraus from the Peg. The entity faced investigations from the SEC and CFTC.
Late last year, Jump agreed to pay $123 million to resolve the SEC investigation. However, Tai Mo Shan did not admit the fraud.
As for FTX, the jump deal was Exchange's Alpha Market Maker, which collapsed the empire and the company engulfed nearly $300 million in losses. This is one of the exchange's biggest creditors.
Jump Trading decided to retreat in the aftermath, ejecting wormhole projects and significantly reduce personnel in the crypto department. However, nonetheless, the company maintains its digital asset trading and market production operations across the international market.
Now, as the regulatory environment is changing under the Trump administration, Jump is seeing opportunities.
Jump Crypto has donated a total of $15 million to Fairshake, a super PAC dedicated to electing Crypto-friendly candidates to Congress for the 2024 election cycle.
Contributors from other companies such as Jump Crypto, Coinbase and Ripple focus on selecting candidates that come from parties that favor the crypto industry.
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