Users have been left with uneasy feelings due to a transition in Robinhood’s crypto trading services, as many of them are powered by Jump Trading. Such partnership has seen a souring downfall since July this year, with no word from either entity about the cause. Coindesk reported that this could be in relation to increasing regulations against Jump Trading in the US, in relation to the accusations made with the collapse of Terra-LUNA – UST in May ’22.
More notably, a shift is being realised in Robinhood’s financial statements, as of Q4 2022 mentions (without giving away an official chinctiong) of their liasion proceeding with of B2C2 exchange in order grooming – making the majority of cryptocurrency transactions handled no longer under Jump’s wings. Intel also points to the existence of over 118,300 BTC (totaling to $3 billion) held in one of Robinhood’s wallet, both accounts set up & fists managed by Jump Crypto within Arkham.
Triggering concern, is the question: what’s to become of the Bitcoins disregarding the splitting of Jump investing fund and Robinhood helmline? With an impressive track record for investing in emerging projects, Jump Crypto being one of the previously brought vital capital to over sixty-eight startups projects, eyeing $32 of them as part of their campaign: Aptos, Sui, Hasflow, Phantom Wallet, and Injective Protocol.
