Wormhole execs depart Jump Trading to run protocol independently: Bloomberg


17 Nov 2023 6:15 PM

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.

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You May Ask

What is the current status of Wormhole after being spun off as an independent entity?Who were the senior staffers that left Jump Trading to run Wormhole independently?How much was Wormhole hacked for in 2022, and how did Jump Crypto respond?What other acquisitions did Jump Crypto make, and how are they related to Wormhole?What allegations and scrutiny has Jump Crypto faced, and what is the status of the class-action lawsuit against them?

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