[tim333]

Jump aren't really crypto folk https://en.wikipedia.org/wiki/Jump_Trading

It's kind of a new thing for them. They do HFT and the like in normal financial markets.

>Jump Trading is a registered broker-dealer and member of multiple exchanges including the CME Group and the New York Stock Exchange.[13][4] They are also members of most European exchanges including Eurex and the London Stock Exchange.[14][15]

>In September 2021, Jump announced their cryptocurrency business through a new brand named Jump Crypto

Also from their website:

>We empower exceptional talents in Mathematics, Physics, and Computer Science to seek scientific boundaries, push through them, and apply cutting-edge research to global financial markets.

so they sound a bit more of a https://en.wikipedia.org/wiki/Renaissance_Technologies type outfit

[benreesman]

Jump is really good, I’m not sure I’d compare them to RenTech, that’s very select company, but certainly Jump Crypto has a lot more in common with e.g. Alameda Research than they do with $COIN_COMPANY.

It’s a very opaque business, but AFAIK Jump’s bread-and-butter desks are more like ultra-low-latency microwave-tower Chicago <-> NY/NJ arbitrage.

When conducted ethically (which ic clearly not always), arbitrageurs and market makers provide a critical, socially useful function. There are ways to cheat, and people do everyday, but that’s any business.

Retail traders benefit from ethical HFT whether that’s on ARCA or Binance. I’m not sure the same can be said for things like PFOF, intentionally mispriced IPOs, or offering crypto traders 100x leverage.