Chicago-based high-frequency trading firm Jump Trading has made an investment in sports fan token platform Chiliz.Blockchain-based sports platform Chiliz has sealed an investment of an undisclosed amount from Chicago-based trading firm Jump Trading LCC.
Jump Trading — a proprietary trading firm founded 20 years ago by Chicago futures pits veterans Bill DiSomma and Paul Gurinas — has been engaged for some time in the cryptocurrency space, alongside its wider activities in global futures, options and equities markets. The firm specializes in algorithmic and high-frequency trading strategies and has reportedly been market making for Chiliz’s tokens since early 2021.
Speaking to Cointelegraph, Chiliz CEO Alexandre Dreyfus said:
“The support of Jump Trading into the Chiliz and fan tokens ecosystem is a recognition for the sports crypto space […] It is also an interesting move, as we firmly believe that fan tokens are a much, much, bigger market than NFTs and digital sports collectibles.”