Market Makers Jane Street, Jump Retreating From U.S. Crypto Trading: Bloomberg

Market makers Jane Street and Jump Trading are retreating from crypto trading in the U.S. as a regulatory crackdown on the industry has intensified, Bloomberg reported, citing a person familiar.

Both firms are still making markets and not abandoning the crypto industry entirely, Bloomberg said citing the person. However, Jane Street is scaling back its global crypto expansion plans, while Jump Crypto - the digital assets trading unit of Jump Trading - is pulling back from U.S. markets, although it's still planning to expand internationally, the news outlet reported citing two people familiar with the matter.

U.S. policy makers and regulators have intensified regulatory pressure on the crypto industry after the spectacular collapse of centralized exchange FTX. The move has spooked industry veterans and investors alike. Some observers have even called it a"war on crypto." Industry giants like Coinbase have

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