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

Last week, a Fortune report revealed that I, as a researcher, have come across information indicating that the U.S. Commodity Futures Trading Commission (CFTC) is looking into a company’s cryptocurrency transactions.

As a crypto investor, I can relate to Kariya’s feelings when he announced his exit from some investments on X Monday. It’s a bittersweet moment for me as well. On one hand, it brings a sense of heaviness, perhaps due to the potential losses or the nostalgia of past gains. But on the other hand, I’m excited about the new opportunities that lie ahead in the ever-evolving world of cryptocurrencies.

As a researcher looking into the events surrounding Jump Crypto, I uncovered some significant happenings following Jump’s appointment as president in 2021. The company experienced a string of challenges post-announcement. Firstly, a hack on the Wormhole cryptocurrency bridge that Jump supported occurred in early 2022, resulting in over $300 million in losses. In response, Jump had to cover these damages from their own resources. Subsequently, Do Kwon’s Terra/Luna project encountered issues, leading to criminal charges against Kwon. US authorities reported that Jump gained over $1 billion from this ecosystem before it collapsed.

At the age of 25, he obtained the position of president at Jump Crypto. Currently in his late twenties, he expressed his intention to continue collaborating with the companies he has been most invested in, and possibly take a break to reflect upon the extraordinary events that have unfolded over the past few years, as stated on X Monday.

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