Jump Trading Accused of ‘Pump and Dump’ in Game Developer’s Suit

Video-game developer FractureLabs filed a lawsuit against Jump Trading, accusing one of the cryptocurrency industry’s biggest market makers of “fraud and deceit” by manipulating the price of a token used in an online game.

According to the suit, FractureLabs planned to raise funds through an initial offering of the DIO token on the Huobi exchange in 2021. The company said it retained Jump as a market maker for DIO, a token used within its Decimated online game that also trades in the crypto market. It loaned 10 million of the tokens to a Jump subsidiary as part of the ...