Backed by Latham & Watkins, Jump Trading LLC easily beat allegations on jurisdictional grounds without prejudice late Wednesday in a Chicago federal court that the established trading firm facilitated an initial exchange offering for an independent crypto-gaming developer, but instead carried out a "pump and dump" scheme that netted an eight-figure return.

Since 2018, the plaintiff, FractureLabs Oü, has been developing Decimated, an online role-playing game that incorporates its own cryptocurrency, the DIO token, into gameplay. Due to the success of the game, about three years later, FractureLabs planned an initial exchange offering of the tokens to raise capital for the ongoing development of Decimated.

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