Jane Street Group and Jump Crypto, two of the world's largest market makers, are withdrawing from digital asset trading in the US due to regulatory pressure on the industry.
According to a source familiar with the matter, Jane Street is taking an even more sweeping step by shrinking its crypto targets globally, as regulatory uncertainty in the US makes it difficult for the firm to operate to meet its internal standards.
Two sources familiar with the matter said that Jump Trading's digital assets unit, Jump Crypto, was also withdrawing from the US market for the same reason, but expanding internationally.
Sources said that companies have not completely abandoned crypto, albeit on a smaller scale.
*Not investment advice.