Markets
Jump’s Kariya, who went from intern to crypto leader, leaves the trading giant
Kanav Kariya, who rose from intern to head of cryptocurrencies at Chicago-based trading heavyweight Jump Trading at the age of 25, has left the company.
The news follows a Fortune report Last week, the United States Commodity Futures Trading Commission was investigating the company’s crypto transactions.
Kariya posted on Monday that he leaves today, “a moment that I receive both with a heavy heart and great excitement about the road ahead.”
His nomination to the presidency was announcement in 2021. The company then faced a series of setbacks. Jump-backed Wormhole cryptocurrency bridge was pirate in early 2022 to the tune of more than $300 million, prompting Jump to replenish its losses out of its own pocket. And then Do Kwon’s Terra/Luna project blew up, leading to criminal charges against Kwon again. US officials say Jump earned over a billion dollars of this ecosystem before it collapses.
He was only 25 years old when he got the position of president at Jump Crypto. Now in my late 20s, “I plan to remain engaged with the portfolio companies I’ve been most involved in and hope to take time to process the incredibly eventful years we’ve had,” he declared on Monday X.
UPDATE (June 24, 2024, 2:55 p.m. UTC): Adds a Fortune story on the CFTC investigation.