Jump Crypto, which has been silent in the cryptocurrency world for a long time, is coming back to the public after years of low-profile work.
Jump Crypto Breaks Silence: “We Are Ready to Rebuild and Share”
In its new statement, the company emphasized that it never stopped building infrastructure despite the difficulties experienced in the past, and gave the message that “we are ready to build the next frontier of crypto technology.”
While Jump Crypto is still viewed by many as a major market maker and high-frequency trader, it now wants to position itself as a serious infrastructure developer. “It would be incomplete to see us as just a trader. We are building more,” the company said in a statement.
Jump Crypto attracted public attention in 2021 with its association with the TerraUSD (UST) stablecoin.
In December 2024, the company’s subsidiary Tai Mo Shan, which was accused of misleading investors during the UST’s short-dollarization in May 2021, signed a $123 million settlement agreement with the U.S. Securities and Exchange Commission (SEC).
Jump Crypto was also the subject of criminal investigations for allegedly manipulating the price of UST alongside Terra. The company also suffered major financial losses following the collapse of FTX and the collapse of the Terra ecosystem.
One of the most notable incidents was the hacking of its own cross-chain protocol called Wormhole in February 2022. While the attackers caused a loss of $325 million, Jump Crypto had to pay $320 million in compensation to cover this loss.
After these negativities, Jump Crypto had largely withdrawn from the public. However, its new statements show that the company has presented a new vision. Jump Crypto, which highlights its developer identity, states that it will focus on areas such as decentralized infrastructure, interchain interoperability and secure protocols in its future roadmap.
The company, which wants to regain trust in the crypto markets, emphasizes that it has learned from the mistakes of the past and that this time it will act with the principles of transparency and responsibility.
*This is not investment advice.
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