Breaking: Jump Crypto President Kanav Kariya Stepping Down Amid CFTC Probe
Jump Crypto President Kanav Kariya announced in a June 24 X post that he is stepping down from his position at the Chicago-based company just days after news broke that the Commodity Futures Trading Commission (CFTC) launched a probe into the trading firm.
“Today marks the end of an incredible personal journey for me. It’s my last day at Jump, a moment I’m receiving with both a heavy heart and great excitement about the road ahead,” Kariya wrote. “I’m leaving with a set of awesome relationships and unique, invaluable and shaping experiences.”
Today marks the end of an incredible personal journey for me. It’s my last day at Jump, a moment I’m receiving with both a heavy heart and great excitement about the road ahead. I’m leaving with a set of awesome relationships and unique, invaluable and shaping experiences. It’s…
— Kanav Kariya (@KanavKariya) June 24, 2024
Kariya said he would “stay engaged with the portfolio companies” he’s been involved with while taking “some time to process the unbelievably eventful few years” he has had to lead the trading giant.
“A heartfelt thanks to everyone who has been supportive to me on this journey,” Kariya continued. “I’m genuinely overwhelmed by the kindness and encouragement I’ve received along the way.”
According to last week’s report from Fortune, the CFTC probe on Jump Crypto primarily focuses on its trading and investments across the cryptocurrency sector.
Founded in 2015, Jump Crypto has experienced several setbacks in recent years, particularly as the U.S. government notched up its regulation-by-enforcement approach to the digital sector.
The firm gained scrutiny after it was revealed in 2023 that it had made $1.28 billion before the crash of Terraform Lab’s Terra Luna ecosystem, of
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