Jump Trading
Summary
Jump Trading is a Chicago-based proprietary trading firm founded in 1999, operating one of the largest high-frequency trading operations globally across futures, equities, fixed income, FX, and cryptocurrency markets. Its crypto division, Jump Crypto, became a major force in DeFi infrastructure between 2021 and 2023, co-developing Wormhole, Pyth Network, and the Firedancer Solana validator client. The firm has faced significant regulatory and legal exposure: its subsidiary Tai Mo Shan settled with the SEC in December 2024 for $123 million over TerraUSD manipulation, the Terraform bankruptcy administrator filed a $4 billion civil lawsuit in December 2025 naming Jump and individual executives, and a separate CFTC investigation was reported in 2024 with no public resolution as of mid-2026.
Connected Entities
1 entities · 10 linked investigations- + 7 more
Timeline(17 events)
1999-01-01
Paul Gurinas and Bill DiSomma found Akamai Trading LLC (later renamed Jump Trading in 2001), a proprietary trading firm in Chicago
Jump Trading - Wikipedia2014-04-16
New York Attorney General subpoenas Jump Trading along with five other HFT firms as part of broad investigation into special exchange arrangements
CNN Money2018-05-08
NYSE Chicago fines Jump Trading $250,000 for a temporary net capital deficiency caused by an erroneous algorithmic software fix
Lexology - NYSE Chicago Sanction2021-05-23
TerraUSD (UST) depegs from $1; Tai Mo Shan (Jump Crypto subsidiary) secretly purchases approximately $20 million of UST to restore the peg under an alleged 'gentlemen's agreement' with Terraform Labs, receiving discounted LUNA tokens in exchange
SEC Press Release 2024-2122021-09-14
Jump Trading formally launches Jump Crypto division, with Kanav Kariya appointed president
Business Wire2022-02-02
Wormhole cross-chain bridge exploited for 120,000 ETH (~$320 million); Jump Crypto makes users whole within 24 hours by depositing equivalent ETH from its own balance sheet
CoinDesk2022-11-01
FTX collapses; Jump Trading sustains losses of approximately $300 million (per Michael Lewis's 'Going Infinite'); Tai Mo Shan identified as a major creditor
CoinDesk2022-05-01
Terra/LUNA ecosystem collapses in May 2022, causing approximately $40 billion in market losses; Jump's undisclosed 2021 peg-support role later scrutinized by regulators and litigants
Bloomberg - Terraform lawsuit2023-02-01
Jump Crypto and Oasis collaborate to recover approximately $140 million net from the 2022 Wormhole hacker's wallet via an upgradable contract mechanism
Blockworks2023-05-09
Class action lawsuit filed against Jump Trading and Kanav Kariya alleging UST/aUST market manipulation and over $1.28 billion in ill-gotten profits from Terra ecosystem
Selendy Gay PLLC2023-11-17
Jump Trading spins out Wormhole as an independent entity, shrinking its direct crypto business amid regulatory uncertainty and market downturn
Bloomberg2024-06-20
Reports emerge that the CFTC has opened an investigation into Jump Trading's cryptocurrency trading and investment activities
Yahoo Finance / Fortune2024-06-24
Kanav Kariya resigns as president of Jump Crypto, four days after the CFTC investigation is publicly reported
The Block2024-10-15
Fracture Labs files an Illinois federal lawsuit against Jump Trading alleging a pump-and-dump scheme involving its DIO token on Huobi in 2021
Claims Journal2024-12-20
SEC settles with Tai Mo Shan Limited (Jump Crypto subsidiary) for $123,095,287 over charges of negligently misleading investors about TerraUSD's stability and acting as an unregistered underwriter of LUNA
SEC Press Release2025-06-05
Federal court dismisses Fracture Labs pump-and-dump lawsuit against Jump Trading without prejudice on jurisdictional grounds (lack of complete diversity); not a ruling on the merits
Law.com / National Law Journal2025-12-19
Terraform bankruptcy administrator Todd Snyder files $4 billion civil lawsuit against Jump Trading, William DiSomma, and Kanav Kariya in the Northern District of Illinois, alleging manipulation, concealment, and self-dealing
BloombergDecision Log
- hash: AMdUJHC28RcvcrRubEcBYXFWU4SBm7kvaWMjBcBAS86v
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/2/2026, 10:47:07 PM
last updated: 6/2/2026, 10:47:14 PM
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