Wormhole execs depart Jump Trading to run protocol independently: Bloomberg
A report from Bloomberg claims that Wormhole’s CEO and chief operating officer left Jump Trading to run Wormhole independently....
- Jump Trading has spun off cross-chain protocol Wormhole as an independent entity.
- CEO Saeed Badreg and COO Anthony Ramirez have left Jump Trading to run Wormhole independently.
- Wormhole was hacked for $320 million in 2022, and Jump Crypto stepped in to replace the funds.
- Jump Crypto was able to recover the stolen funds from the Wormhole attack.
- Jump Crypto acquired Certus One in 2021, leading to the acquisition of the Wormhole bridge.
- Jump Crypto has faced scrutiny for alleged backdoor deals, with its president pleading the fifth during a deposition by the SEC.
- A class-action lawsuit filed in May alleged that Jump earned around $1.3 billion from manipulating Terra.
The sentiment of the article is mostly negative, as it discusses the hacking incident, scrutiny faced by Jump Crypto, and the class-action lawsuit.