TechFlow news, according to CoinDesk citing sources familiar with the matter, retail broker Robinhood Markets Inc. entered the cryptocurrency space several years ago driven by Chicago-based giant Jump Trading, but the two companies no longer maintain a cryptocurrency partnership.
Robinhood's free crypto trading business relies on market makers to ensure smooth execution of its multi-billion-dollar trading volume. However, Jump has reportedly exited the U.S. market due to increased regulatory scrutiny.
Sources revealed that since the fourth quarter of 2022, Robinhood’s financial reports have no longer mentioned Tai Mo Shan Limited, a Jump-affiliated entity responsible for handling Robinhood’s order flow. Instead, according to public filings submitted to the SEC, the publicly traded broker is now working with competing market makers including B2C2, which currently handles the majority of Robinhood’s crypto trading operations.
