News
Jump’s Kariya, who rose from intern to crypto industry leader, is leaving Trading Giant
Kanav Kariya, who went from intern to head of cryptocurrencies at Jump Trading, a Chicago-based trading heavyweight, at age 25, has left the firm.
News follows a fortune report last week that the U.S. Commodity Futures Trading Commission is investigating the company’s crypto transactions.
Kariya published on X Monday when it releases today, “it’s a moment I’m receiving with a heavy heart and with great excitement for the road ahead.”
His nomination as president was announced in 2021. The company faced a series of setbacks afterward. Jump-backed cryptocurrency bridge Wormhole was violated in early 2022 to the tune of more than $300 million, prompting Jump to replenish losses out of its own pocket. And then Do Kwon’s Earth/Moon project blew up, again leading to criminal charges against Kwon. US officials say Jump earned more than $1 billion from that ecosystem before it collapsed.
He was only 25 years old when he got the president’s job at Jump Crypto. Now in his late 20s, “I plan to stay engaged with the portfolio companies I’ve been most involved with and hope to take some time to process the incredibly eventful years we’ve had,” he told X Monday.
UPDATE (June 24, 2024, 2:55 PM UTC): Adds Fortune story on CFTC probe.