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Insider: Jump is restructuring its US encryption business and plans to expand the team size

Insider: Jump is restructuring its US encryption business and plans to expand the team size

Bitget2025/03/05 14:40
SOL+0.99%

According to CoinDesk, Chicago trading giant Jump is restoring its U.S. cryptocurrency business to full operation after scaling back over the past two years due to regulatory scrutiny and uncertainty.

Insiders revealed that although Jump has been maintaining digital asset trading and market-making activities in other parts of the world, crypto trading volume in the United States is now growing rapidly. Jump plans to hire a group of crypto engineers and will begin filling policy and government liaison positions when appropriate. With the relaxation of regulations under Donald Trump's administration, Jump believes it is an opportune time to fully restore its U.S. operations.

Jump became a focus of regulatory scrutiny following the collapse of Terra Luna stablecoin and FTX, which led to a contraction in its U.S. business including spinning off Wormhole project and halving staff size at Jump Crypto division which had about 150 employees in 2022.

Industry insiders believe that Jump may participate in the US crypto ETF field in future, especially considering Solana (SOL) ETF might get approved soon. Jump is known for its investment and development work within Solana ecosystem such as Firedancer project - software aimed at increasing blockchain transaction throughput.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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