Jump Crypto Is Back, Pretends Community Forgot About Terra
Jump Crypto, the trading and venture arm of multi‐billion‐dollar firm Jump Trading that played a central function in underpinning Terra’s approximately $40 billion stablecoin ecosystem, has reintroduced itself and is apparently ready to build again. More than a year after stepping out of the spotlight amidst settlements and claims, the firm resurfaced this week with a new post on X. “@jump_ is re-introducing itself: the builders behind a few of the most enthusiastic jobs in crypto. We are transforming real-world constraints into open-source, decentralized infrastructure and inviting policymakers and home builders to form the future of monetary markets with us,” the firm composed in the post on June 19. In an accompanying blog post, Jump Crypto acknowledged keeping a “lower public profile” over the past few years however insisted it has “never stopped structure.” Terra Fallout Jump Crypto came under scrutiny in December 2024, after its subsidiary, Tai Mo Shan, settled with the U.S. Securities and Exchange Commission for $123 million associated to misleading investors throughout TerraUSD’s brief depeg in Might 2021. According to the SEC, Jump invested over $20 million through its subsidiary to press UST back to $1 without revealing its participation. That move provided financiers incorrect confidence and helped fuel billions of dollars in inflows into the stablecoin, which later on collapsed catastrophically, the regulator stated. Dive did not confess misbehavior. In a commentary for the Wall Street Journal, the firm stated it was “deeply disappointed” with the SEC’s regulation-by-enforcement technique but said it was “happy to solve this matter.” Previous SEC Chair Gary Gensler, who left workplace in January, called the case a tip of crypto’s “significant financier losses due to scams.” Now, Jump Crypto appears to be increasingly associated with discussions with policymakers in Washington, suggesting an interest in reentering the market by specifying that “there has never been a better opportunity to construct not just a new set of monetary rails, but a new coordination layer for organizing.” The crypto community wasted no time responding. Jordan Fish, the popular trader much better called Cobie, responded to Jump’s post: “Hey, you missed ‘earned money billions to repeg Luna’s UST’ from the performance history,” referencing Jump’s behind-the-scenes function in supporting TerraUSD. Another X user using the deal with CatfishFishy, also buffooned the company by stating, “We’re back! When we’re not busy paying 9-figure settlements for scamming retail investors … we spend our time launching the least trusted procedures ever released in web3 history, such as Pyth and Wormhole!” Dive Crypto’s return comes in the middle of a pro-crypto shift under the Trump administration, which previously pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, together with former executive Gregory Dwyer. All of them pleaded guilty in 2022 to Bank Secrecy Act violations associated to insufficient anti-money laundering controls. The SEC’s aggressive enforcement stance has actually likewise softened. The agency dropped or stopped briefly numerous prominent crypto lawsuits, including those against Binance, Ripple, Robinhood, and Coinbase, after President Trump pledged to make the U.S. the “crypto capital of the world.” Dive Crypto, the trading and endeavor arm of multi‐billion‐dollar firm Jump Trading that played a central role in underpinning Terra’s roughly $40 billion stablecoin environment, has reestablished itself and is apparently prepared to build again. Terra Fallout Dive Crypto came under examination in December 2024, after its subsidiary, Tai Mo Shan, settled with the U.S. Securities and Exchange Commission for $123 million related to deceptive investors throughout TerraUSD’s brief depeg in Might 2021. Jordan Fish, the popular trader much better understood as Cobie, responded to Dive’s post: “Hey, you missed out on ‘got paid billions to repeg Luna’s UST’ from the track record,” referencing Dive’s behind-the-scenes function in supporting TerraUSD.
