According to Bloomberg’s source, the firms are not abandoning crypto-industry activities entirely.
Jump Crypto, the digital asset trading arm of Jump Trading, is leaving the U.S. market, but still plans to expand internationally.
Jane Street dropped those plans. The companies declined to comment on the situation.
U.S. regulators increase pressure on crypto industry after FTX crash. The move scared industry veterans and investors alike – some even called it a “war on cryptocurrency.”
Former FTX CEO Sam Bankman-Fried worked for Jane Street before entering the crypto industry and later hired former Jane Street employees at FTX.
In late March, CoinDesk’s editorial board said that behind U.S. regulators’ scrutiny of the cryptocurrency industry is a coordinated attempt by authorities to harm the digital asset industry.
The findings were prompted by a series of SEC actions against regulated U.S. cryptocurrencies, including Kraken and Coinbase, as well as the Commodity Futures Trading Commission (CFTC) legal actions against Binance.