Guardly leading market makers drop US crypto trading plans due to regulatory passes (report)
Guardly leading market makers drop US crypto trading plans due to regulatory passes (report)
Jane Street Group and Jump Crypto withdraw from their ambitions in crypto trade, as the US regulators strengthen their efforts to suppress the industry.
In addition, the global trading company Jane Street reduces its crypto plans worldwide due to regulatory uncertainties. The unclear regulatory framework "made it difficult for the company to operate the business in a way that corresponds to internal standards," said Bloomberg, citing a person familiar with the matter.
Jump Crypto, the digital assets unit of Jump Trading, displacement the US market for similar reasons, it said.
American crypto exodus
However,it was confirmed that Jump Crypto is expanding internationally. Several US crypto companies such as Coinbase, Gemini and Galaxy Digital also move abroad.
Jane Street and Jump Trading were affected by the turbulence on the cryptom market last year. They were targeted by the US public prosecutor as part of an investigation of the failed terra/luna ecosystem. In addition, Jump Crypto has been an important supporter of the Terrausd Stablecoin project since 2019.
Also Jane Street has not escaped the anger of the regulatory authorities. According to the report, the company was cited anonymously by the Commodity Futures Trading Commission (CFTC) against Binance.
In addition, the former FTX CEO Sam Bankman-Fried worked on Jane Street in New York before founding Alameda in 2017.
The world's leading crypto assets administrator Grayscale continues to drive his ambitions for crypto-exchange-road funds (ETF), even though it is blocked by Securities and Exchange Commission (Sec).
On May 9th, Grayscale announced the foundation of the Grayscale Fund Trust, which it described as follows:
"A new Series Trust, which enables Grayscale to independently manage and launch new and innovative products while we further expand our ETF franchise and our wider product family."
In addition, a registration for a Grayscale Ethereum Futures ETF, a Grayscale Global Bitcoin Composite ETF and a Grayscale Privacy ETF was submitted.
outlook on the cryptom market
The cryptoma markets have remained unchanged in the last 24 hours. As a result, the total capitalization remains at $ 1.19 trillion, after a decline of 4.6 % last week.
The BTC prices remained unchanged at $ 27,694 on this day, while Ethereum remained unchanged at $ 1,845 at the time of writing
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