Jump Trading apparently lost nearly $300 million on FTX, before the collapse Jump was one of the largest Robinhood market makers.
Sam Bankman-Fried’s Robinhood shares could cause a major price meltdown, unless the DoJ or liquidators agree to sell them back to the firm.
Robinhood customers have assets held and transactions processed by a labyrinth of opaque service providers, including Jump Crypto.
Robinhood wanted Ziglu for $170 million in April but now says it will pay just $72.5 million, leaving Ziglu investors way down on the deal.
Robinhood’s compliance program was understaffed and the company was too slow in moving away from its manual transaction monitoring system.
- Binance invested heavily in lobbying before guilty plea
- Top Binance exec Noah Perlman’s ties to Epstein, Moonstone, and Gemini
- CFTC demands Coinbase user data in suspected Bybit probe
- Tether gives FBI peek behind the curtain
- Binance card withdrawals have been down for a week
- HTX hacked week after Poloniex — now Justin Sun only posts as AI
- Binance and CZ plead guilty but SEC lawsuit remains
- Tether sent $1B to UK firm owned by prominent Conservative donor
- M2: Did Mr. Wonderful endorse the next FTX?