Jump enters compute trading
According to Bloomberg, market maker Jump Trading has acqui-hired Ito Markets co-founders Affaan Mustafa and Alejandro Soumah Fernandez. The two will lead a newly formed compute trading division. The terms of the deal were not disclosed. Ito itself trades compute capacity rights on a proprietary basis.
Traditional heavyweight market makers are starting to price AI compute. Institutional investors will keep snapping up the upstream assets in this space, and proxy plays like TAO and RENDER are only going to get more volatile.
For those holding TAO, what’s your cost basis? Or are you switching over to RENDER?
$TAO $RENDER $BTC
According to Bloomberg, market maker Jump Trading has acqui-hired Ito Markets co-founders Affaan Mustafa and Alejandro Soumah Fernandez. The two will lead a newly formed compute trading division. The terms of the deal were not disclosed. Ito itself trades compute capacity rights on a proprietary basis.
Traditional heavyweight market makers are starting to price AI compute. Institutional investors will keep snapping up the upstream assets in this space, and proxy plays like TAO and RENDER are only going to get more volatile.
For those holding TAO, what’s your cost basis? Or are you switching over to RENDER?
$TAO $RENDER $BTC