Even after the welcomed recovery on August 6, Ethereum is under immense selling pressure today, August 7. Despite gains earlier today, losses saw the coin edge lower, as visible in the daily chart. The daily chart rejected the coin at around the $3,500 resistance level. At this pace, Ethereum could continue plummeting if bears step…
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On Wednesday, online reports unveiled that hundreds of Ethereum wallets that had been dormant for over 3 years were moving large amounts of ETH. The wallets were believed to have moved $2 billion worth of ETH linked to a $4 billion crypto scam. Investors worried that another massive dump would affect the market’s recovery. However,…
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The Commodity Futures Trading Commission (CFTC) has initiated an inquiry into the cryptocurrency activities of Chicago-based Jump Trading, according to a report by Fortune’s Leo Schwartz. This investigation forms part of a larger regulatory review, though it does not suggest any wrongdoing by the firm. Jump Trading Under CFTC Scrutiny Jump Trading, noted for its…
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Based on a recent report, Jump Trading Group, known for its focus on algorithmic and high-frequency trading techniques, has reportedly severed ties with the Wormhole crypto initiative, known for its cross-chain communication services. Last year saw Wormhole suffer a significant loss of 120,000 ethereum due to a major security incident. Wormhole and Jump Trading ‘Part…
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The lawsuit, initially filed on May 9, alleges the firm and its CEO was involved in a price manipulation scheme tied to the TerraUSD stablecoin. Algorithmic and high-frequency trading firm Jump Trading is seeking to have the class action lawsuit against the firm moved from Illinois to a Northern district court in California, arguing that…
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A US regulator’s court filings confirm that Jump Trading secretly supported Terraform Labs — the company behind the failed algorithmic stablecoin — about a year before the company collapsed. The Securities and Exchange Commission filed a document last week showing a contract between Terraform and a Chicago-based company called Tai Mo Shan Limited — with an…
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Jump Trading has been sued for conspiring to manipulate the price of TerraUSD (UST) following the stablecoin’s unprecedented collapse. New Jersey-based resident Taewoo Kim has filed the lawsuit on behalf of affected investors, alleging that Jump Trading acquired substantial quantities of UST to manipulate its value toward $1, misleading investors about its true price and risks associated…
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The US Justice Department has probed the two major trading firms Jump Trading and Jane Street about plans for a potential bailout of the Terra network’s failed algorithmic stablecoin TerraUSD (UST). According to Bloomberg report from Monday, prosecutors are now looking into group chat conversations on Telegram with participants from Jane Street and Jump Trading.…
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