Key Points:
Jane Street, a global trading company known for its cutting-edge approach. Similarly, Jump Trading is said to have stopped creating markets for physically settled crypto derivatives in the United States. This decision is in line with their risk management strategy. It aims to avoid potential legal challenges that may arise in the future.
According to reports, the two businesses still offer market-making services and are still involved in cryptocurrency. While Jump Trading’s division for trading digital assets, Jump Crypto, is quitting the US market despite its aspirations to grow abroad, Jane Street is reducing the scope of its global crypto operations.
Following the FTX crash, US policymakers and regulators stepped up scrutiny of the crypto industry. Some observers have even called it the “crypto war.” Industry giants such as Coinbase, a16z, or the Blockchain Association have responded and criticized the US SEC’s tightening proposals.
The United States Commodity Futures Trading Commission (CFTC) has sued cryptocurrency exchange Binance and founder Changpeng Zhao, accusing the company of knowingly providing unregistered crypto derivatives products in the United States.
Let’s just say that US lawmakers and authorities have intensified their regulatory assault on the cryptocurrency industry in the wake of the stunning collapse of the centralized exchange FTX, which has made investors and company owners wary about all business decisions.
Former FTX SBF CEO worked at Jane Street before entering the crypto industry and has hired several former Jane Street employees to join FTX, including former FTX US President Brett Harrison.
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