Jump Spins Off Crypto Project That Suffered $320 Million Hack

Jump Trading Group has parted ways with Wormhole, the crypto project it injected about $320 million into almost two years ago following a massive hack, as the market maker retrenches in the digital-assets space.

Senior Wormhole staffers including its chief executive officer, Saeed Badreg, and Chief Operating Officer Anthony Ramirez left in recent weeks to run Wormhole as an independent entity, said people with knowledge of the matter, who asked not to be named discussing private information. It wasn’t clear how many people in total departed Jump as part of the move.

Wormhole was part of Jump Crypto, the digital-asset ...