Kanav Kariya, who ascended from intern to head of the cryptocurrency division at the formidable Chicago-based trading firm Jump Trading by the tender age of 25, has officially exited the company. This departure comes in the wake of an investigative report by Fortune, revealing that the U.S. Commodity Futures Trading Commission is scrutinizing the company’s cryptocurrency operations.

Kariya announced his departure on X on Monday, expressing a mix of melancholy and anticipation: “A moment I’m receiving with both a heavy heart and great excitement about the road ahead.”

Meteoric Rise and Tumultuous Tenure

Kariya’s appointment as president was heralded in 2021, marking a significant milestone in his career. However, his tenure was marred by a series of challenges. In early 2022, the Wormhole cryptocurrency bridge, supported by Jump, was hacked, resulting in losses exceeding $300 million. In a bold move, Jump replenished these losses from its own coffers. Additionally, the collapse of Do Kwon’s Terra/Luna project led to criminal charges against Kwon, although Jump reportedly reaped over $1 billion from the ecosystem before its downfall.

Despite these setbacks, Kariya, now in his late 20s, remains optimistic about his future. “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 remarked on X Monday.

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Looking Ahead

Kariya’s departure marks the end of a remarkable chapter at Jump Trading, a company where he demonstrated exceptional leadership and resilience in the face of adversity. As he embarks on new ventures, the crypto community watches with keen interest, anticipating the next steps of this dynamic leader.