Jump Trading Hires the Founders of Compute Trading Startup to Lead New Department

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Jump Trading has hired the founders of Ito Markets Inc., a startup focused on trading compute power usage rights. Affaan Mustafa and Alejandro Soumah Fernandez will lead a new compute trading department. The move follows growing trading activity in alternative assets. Details of the recruitment, which resembles an acquisition, were not disclosed. The firm’s trading volume in compute-related assets is expected to expand under their leadership.

BlockBeats news, on October 13, Bloomberg reported that market maker Jump Trading has hired the founding team of a startup specializing in computing power trading. As the AI boom drives growth in related markets, market makers are increasingly entering this emerging asset class.


According to a post by Ito Markets on X, Jump Trading has acquired the founders of Ito Markets Inc., Affaan Mustafa and Alejandro Soumah Fernandez, through an "acqui-hire" arrangement. Ito Markets is a proprietary trading startup focused on buying and selling access to computational power. Both individuals have joined Jump Trading and will lead the newly established compute trading division. The financial terms of the transaction have not been disclosed.

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