According to sources quoted by Forbes, the U.S. Commodity Futures Trading Commission (CFTC) is investigating the cryptocurrency business of Jump Crypto, a Chicago-based trading firm. The investigation includes its trading and investment activities. However, this investigation does not indicate any evidence of wrongdoing.
Jump Trading is well-known for its expertise in algorithmic trading and has become one of the most active market makers and investors in the cryptocurrency industry in recent years. However, it has also been involved in a series of hacking attacks and collapse events.
According to insiders, this investigation is being conducted after a turbulent three years for Jump.
Jump is known for its expertise in algorithmic trading and announced the establishment of its cryptocurrency division, Jump Crypto, in September 2021. Since then, it has become one of the most active market makers and investors in the cryptocurrency industry. However, the company has also been involved in several negative events over the past three years, including covering a hacking attack loss of $325 million for the cross-chain protocol Wormhole and losing nearly $300 million due to the collapse of FTX.
The CFTC’s investigation into Jump’s cryptocurrency business reflects the regulatory agency’s increasing concern and oversight over the growing cryptocurrency market. However, it is currently unclear whether the agency is considering charges against Jump.
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