Insiders have disclosed to CoinDesk that Robinhood's cryptocurrency business has ceased its collaboration with Jump Trading. Previously, Robinhood had provided retail customers with low-cost cryptocurrency trading services, with Jump Trading serving as a partner to provide market-making services.
Reportedly, in the face of heightened regulatory scrutiny, Jump Trading has been gradually withdrawing from the U.S. market.
Earlier, Tai Mo Shan Ltd, a subsidiary of Jump Trading that handled Robinhood's order flow, had been listed in Robinhood's financial reports, but the company has been absent from these reports since Q4 of 2022.
The reasons for the termination of this partnership between the two entities remain unclear. (Source: CoinDesk)