The post Jump Crypto Faces CFTC Investigation Amid Cryptocurrency Trading Scrutiny appeared on BitcoinEthereumNews.com.

The CFTC has launched a probe into Jump Crypto, including its investment and trading activities, but has not charged the company with any wrongdoing. Jump Crypto is one of the industry’s largest market makers and is behind critical market infrastructure, like the Wormhole bridge, but has been caught up in controversy over links to FTX and Terra. The US commodities watchdog has opened a probe into Jump Crypto, one of the industry’s largest trading companies, according to multiple news reports. The CFTC is investigating Jump Crypto’s trading and investment activity in the sector, but the agency has not disclosed the specifics of its investigation. However, both parties have clarified that the firm has not been charged with any crime, nor is the probe proof of any wrongdoing. Scoop: The CFTC is probing Jump’s crypto business. The Chicago-based trading firm was previously a giant in the crypto market-making and investing space before being implicated in a series of high-profile collapses and hacks, though it is still active:https://t.co/aOuBA7uf5o — Leo Schwartz (@leomschwartz) June 20, 2024 Jump Crypto is a subsidiary of Jump Trading, a Chicago-based proprietary trading giant. The company established its crypto outfit in late 2021 to offer its world-leading trading services to the digital assets world. Jump Crypto quickly shot up the ranks to become one of crypto’s largest market makers, facilitating billions of dollars in trading volume daily. Besides market making, Jump Crypto has also invested in some of the industry’s largest and most successful projects. This includes participating in the $300 million raise for SUI, the $150 million round for Aptos, the $70 million round for the 0x protocol and the $55 million round for Celestia. Additionally, it has incubated some massive crypto projects. Its biggest success was Wormhole, a communication protocol between various blockchains that enables cross-chain…

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Filed under: News - @ June 22, 2024 10:08 am