According to a Bloomberg source, firms are not completely abandoning activities in the crypto industry. Jump Crypto, the digital asset trading arm of Jump Trading, although withdrawing from the US market, still plans to expand internationally. Jane Street abandoned such plans. The companies declined to comment on the situation.
US regulators have increased pressure on the crypto industry after the collapse of the FTX exchange. The move has spooked industry veterans and investors alike – some have even called it “the war on cryptocurrencies.” Former FTX CEO Sam Bankman-Fried worked at Jane Street before joining the crypto industry and later hired former Jane Street employees at FTX.
At the end of March, the editorial board of CoinDesk said that behind the scrutiny of US regulators in the crypto field is a coordinated attempt by the authorities to harm the digital asset industry. These conclusions were fueled by a series of actions by the US Securities and Exchange Commission (SEC) against regulated US crypto companies, including Kraken and Coinbase, as well as the commencement of litigation by the Commodity Futures Trading Commission (CFTC) against Binance.
Source: Bits
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