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After a digital assets pullback in the U.S. over the past two years, Jump is accelerating crypto trading in America and bumping up headcount, people familiar with the matter said.
By Ian Allison, Will Canny|Edited by Aoyon Ashraf
Mar 5, 2025, 2:28 p.m. UTC
What to know:
- While trading and R&D have been maintained in other parts of the world, the time is right to return operations in the U.S. to full strength.
- Jump is rebuilding its digital assets operations headcount, which was scaled back in recent years.
Chicago-based trading giant Jump is returning its U.S. cryptocurrency operations to full strength after scaling it back over the past couple of years due to regulatory scrutiny and uncertainty.
While Jump has maintained its digital assets trading and market-making activity in other parts of the globe, crypto trading volume is now accelerating in the U.S., according to a person familiar with the situation. In addition, Jump is looking to hire a clutch of crypto engineers and plans to start filling U.S. policy and governmental liaison roles in due course, a second person said.
STORY CONTINUES BELOW
The previous U.S. administration, aided and abetted by anti-crypto regulators and weaponized banking authorities, did its best to choke off the digital assets sector across the States—a situation rapidly reversed under Donald Trump.
Read more: As the SEC Continues Its Crypto Litigation Retreat, Here’s What’s Still Outstanding
Jump found itself at the center of regulatory scrutiny in the wake of the collapse of the Terra Luna stablecoin and FTX. This led to reports of a pullback in the U.S., including the spin-out of Jump’s Wormhole project and a halving of headcount at the Jump Crypto division, which had peaked at about 150 staffers in 2022, according to Bloomberg.
An interesting proposition for Jump would be participation in the U.S. crypto ETF space, where the firm has remained conspicuously absent.
Looking ahead, a solana (SOL) ETF is likely to be granted at some point; Jump is known for its investment and development work in the Solana ecosystem, such as with projects like Firedancer, software designed to improve transaction throughput on the blockchain.
Jump declined to comment.
Read more: Jump Crypto Adds $10M to Industry’s U.S. Political War Chest, Raising PAC to $169M
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He’s now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.
