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Jump's Kariya, Who Went From Intern to Crypto Leader, Is Leaving Trading Giant

The Wormhole hack and Terra/Luna blowup happened while he ran Jump's crypto operation.

By Nick Baker|Edited by Nikhilesh De
Updated Jun 24, 2024, 3:19 p.m. Published Jun 24, 2024, 2:48 p.m.
Jump Crypto ex-President Kanav Kariya (Danny Nelson/CoinDesk)
Jump Crypto ex-President Kanav Kariya (Danny Nelson/CoinDesk)

Kanav Kariya, who ascended from intern to the head of cryptocurrencies at Chicago-based trading heavyweight Jump Trading by the age of 25, has left the company.

The news follows a Fortune report last week that the U.S. Commodity Futures Trading Commission is investigating the company's crypto dealings.

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Kariya posted on X Monday that he's exiting today, "a moment I'm receiving with both a heavy heart and great excitement about the road ahead."

His appointment as president was announced in 2021. The company faced a series of setbacks in the aftermath. The Wormhole cryptocurrency bridge that Jump backed was hacked 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 Terra/Luna project blew up, leading to criminal charges again Kwon. U.S. officials say Jump earned more than $1 billion from that ecosystem before it fell apart.

He was just 25 when he got the president 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 hopefully take some time to process the unbelievably eventful few years we've had," he said on X Monday.

UPDATE (June 24, 2024, 14:55 UTC): Adds Fortune story on CFTC probe.



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