Jump Trading no longer wants to keep its multibillion-dollar crypto operation a secret
Jump Trading was once considered one of Wall Street’s most secret high-speed trading companies.
But now, Jump is making their crypto operation fully public and wanting the community to know that they care about being a vocal and transparent contributor to the space. The company, which has invested billions of dollars in the crypto market, announced on Tuesday that it has launched Jump Crypto, cementing its long-standing business’s role in digital assets and blockchain.
“We have been in crypto for six years now in various capacities,” said Kanav Kariya, the recently appointed president of Jump Crypto. “It goes far beyond commerce. Help create numerous protocols, participate in protocol governance and expand the areas in which we have expertise. “
Jump’s crypto operation served as the backbone of Robinhood Crypto, providing liquidity for its cryptocurrency trading. It has also invested in the market through its affiliate venture capital firm, Jump Capital.
The firm is also active in the Solana ecosystem. He is a liquidity provider for the decentralized exchange Serum of FTX and a founding member of Pyth, a decentralized data project based on the Solana blockchain.
Founded in 1999, Jump has said little about what it does publicly and its founders, two former CME Group pit traders, actually have no public profile. Such a provision might not work in crypto the same way it does in quantitative stock trading.
“Jump Crypto is basically a recognition that in a community space, we need to have a voice and be more accessible and share what we’re doing more widely,” said Kariya, who added:
“It’s a commitment to how we intend to operate to position our business itself as a significant contributing participant. “
Participation in the protocol
In a broader sense, Jump Trading wants to be known as more than just a trading company.
The company is looking to expand its efforts in venture capital investments, decentralized finance and chain governance.
Jump announced in August the acquisition of Certus One, a blockchain engineering company, as part of its crypto expansion.
“We want to be someone who thinks about security deep down the stack with deep knowledge,” Kariya told The Block. “The acquisition and the Certus team helped us think about it and start offering solutions.
Certainly, engaging in governance protocols – weighing in on decisions that drive a given blockchain’s open source network – could give Jump a head start when investing in companies and space tokens. .
Jump Capital announced on Tuesday that it had closed a new $ 350 million fund, its seventh since its inception. The fund will focus heavily on crypto and invest in dozens of companies. He has already invested in several companies, including BitGo, which is expected to be acquired by Galaxy Digital, and Curv, which PayPal acquired this year.
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