JUMP

Insiders: Jump is restructuring its U.S. crypto business and plans to expand its team

ChainCatcher news, according to CoinDesk, Chicago trading giant Jump is working to restore its U.S. cryptocurrency business to full operational status, after the company scaled back its related operations over the past two years due to regulatory scrutiny and uncertainty.Insiders revealed that while Jump has maintained digital asset trading and market-making activities in other parts of the world, cryptocurrency trading volume in the U.S. is currently accelerating. Jump plans to hire a group of crypto engineers and will begin to fill U.S. policy and government liaison positions in due course. Against the backdrop of the Donald Trump administration easing regulations, Jump believes now is the right time to restore its U.S. operations to full capacity.Jump became a focal point of regulatory scrutiny after the collapse of the Terra Luna stablecoin and FTX, which led to a contraction of its U.S. business, including the spin-off of the Wormhole project and halving the staff of the Jump Crypto division, which had about 150 employees in 2022.Industry insiders believe that Jump may participate in the U.S. crypto ETF space in the future, especially considering the potential approval of a Solana (SOL) ETF. Jump is known for its investments and development work in the Solana ecosystem, such as the Firedancer project, which is software designed to increase blockchain transaction throughput.
ChainCatcher Building the Web3 world with innovators