Kariya, who began his career as an intern at Jump, has announced his resignation, effective immediately.

Kariya disclosed his departure just four days after reports emerged regarding a Commodity Futures Trading Commission (CFTC) investigation. This inquiry is part of broader investigations by either the CFTC or SEC into Jump.

“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 said.

The CFTC has been examining Jump Crypto for its trading and investment activities within the cryptocurrency sector. Since its inception in September 2021, Jump Crypto has become a key player in the industry, acting as a top market maker and investor.

This resignation raises questions within the community about the nature of the ongoing investigation. Despite this, Kariya mentioned his plans to stay involved with portfolio companies while taking time to consider 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,” Kariya added.

Kariya’s career trajectory is noteworthy. Starting as an intern, he was appointed as Jump Crypto’s first president in 2021 at just 25 years old.

While Kariya did not specify his next move, he mentioned the desire to “reconnect with friends and family and catch up on reading that I haven’t had time for.”

Jump Crypto was established in 1999 by pit traders in Chicago and has made significant strides in the crypto market since enhancing its crypto trading capabilities in 2021. The firm has contributed to notable projects like Pyth and the crypto bridge Wormhole.

During Kariya’s tenure, Jump had to address significant challenges, including bailing out Wormhole after a $320 million hack and facing implications in the SEC’s lawsuit against Terraform Labs for its role in maintaining Terra’s peg during its collapse in 2021.

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