The three “VIP” quant trading firms named by the United States Commodity Futures Trading Commission (CFTC) in its lawsuit against the Binance cryptocurrency exchange have been reportedly revealed to be Radix Trading, Jane Street, and Tower Research.

The Three Unnamed VIP Trading Firms Revealed

On March 27, the CFTC sued Binance for violating trading laws and enabling United States citizens to access the platform. In the lawsuit, Radix Trading is only identified as “Trading Firm A.” Jane Street and Tower Research are “Trading Firm B” and “Trading Firm B,” respectively.

Radix Trading is a trading firm based in Chicago but with offices in other parts of the world, including Amsterdam. Also serving as a research firm, the company claims to be “powered by technology but monetized by trading.”

Jane Street is a quant trading firm with multiple offices, including in New York and Singapore. The firm is mainly known for offering sophisticated analysis and providing liquidity. Meanwhile, Tower Research offers high-frequency and algorithmic trading with headquarters in New York City.

The three VIP trading firms are all based in the United States but use offshore entities to trade on the platform. The CFTC now cites this as an example of how its citizens and firms could access the exchange despite Binance saying it has thorough screening measures in place.

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Author: Dalmas Ngetich

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