Jump Trading
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anchored·zJF4TW…SKpASummary
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- + 7 more
Timeline(17 events)
1999
Paul Gurinas and Bill DiSomma found Akamai Trading LLC (later renamed Jump Trading in 2001), a proprietary trading firm in Chicago
Jump Trading - Wikipedia16 April 2014
New York Attorney General subpoenas Jump Trading along with five other HFT firms as part of broad investigation into special exchange arrangements
CNN Money8 May 2018
NYSE Chicago fines Jump Trading $250,000 for a temporary net capital deficiency caused by an erroneous algorithmic software fix
Lexology - NYSE Chicago Sanction23 May 2021
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 2024-21214 September 2021
Jump Trading formally launches Jump Crypto division, with Kanav Kariya appointed president
Business Wire2 February 2022
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
CoinDeskNovember 2022
FTX collapses; Jump Trading sustains losses of approximately $300 million (per Michael Lewis's 'Going Infinite'); Tai Mo Shan identified as a major creditor
CoinDeskMay 2022
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 lawsuitFebruary 2023
Jump Crypto and Oasis collaborate to recover approximately $140 million net from the 2022 Wormhole hacker's wallet via an upgradable contract mechanism
Blockworks9 May 2023
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 PLLC17 November 2023
Jump Trading spins out Wormhole as an independent entity, shrinking its direct crypto business amid regulatory uncertainty and market downturn
Bloomberg20 June 2024
Reports emerge that the CFTC has opened an investigation into Jump Trading's cryptocurrency trading and investment activities
Yahoo Finance / Fortune24 June 2024
Kanav Kariya resigns as president of Jump Crypto, four days after the CFTC investigation is publicly reported
The Block15 October 2024
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 Journal20 December 2024
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 Release5 June 2025
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 Journal19 December 2025
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: 9jA4QdnEnV7CSuVugWfoTJSRwBY6uYi2BcVnwYXPEz1m
- hash: 2LMai9hjUG83Kg8RT297pJAevWDHiR17XxFaFSVYbkKo
- hash: AMdUJHC28RcvcrRubEcBYXFWU4SBm7kvaWMjBcBAS86v
This investigation is cryptographically anchored to the Solana blockchain (3 events). 23 of 28 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/2/2026, 10:47:07 PM
last updated: 8/2/2026, 10:20:32 AM
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