# Jump Crypto's Kanav Kariya Steps Down

*Author: David Christopher*
*Published: Jun 24, 2024*
*Source: https://www.bankless.com/fr/jump-crypto-presiden*

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Jump Crypto president Kanav Kariya announced he is stepping down from Jump, an announcement that comes just days after the CFTC's investigation into Jump Trading's crypto activities was made public.

### What's the scoop?
- **Kanav Kariya's Departure: **[In his announcement](https://x.com/KanavKariya/status/1805245324610371761), Kariya did not mention the CFTC investigation, only sharing that he plans to stay engaged with portfolio companies.
- **CFTC Investigation:** Last week, it came to light that the [CFTC is investigating Jump Trading's](https://www.bankless.com/trump-token-turmoil) crypto trading and investing activities. However, this is part of a broader regulatory effort by the CFTC and SEC to scrutinize crypto companies and does not imply any wrongdoing.
- **Background Context: **Jump was implicated in the TerraUSD de-peg incident, making $1.28B during the ecosystem's collapse, but faced no charges.

### Bankless Take
Kanav Kariya’s departure certainly comes at a tumultuous time for Jump Trading, with the CFTC investigation adding another dimension. While it could be nothing, this investigation does come quickly after Do Kwon reached a settlement with the SEC, and, while this is the CFTC’s investigation, Jump’s place in the Terra de-peg could imply a connection between these events. All in all, the most eyebrow-raising element of this ordeal certainly comes from Kanav’s explicit avoidance of mentioning the investigation to any degree in his departure announcement.

> 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](https://twitter.com/KanavKariya/status/1805245324610371761?ref_src=twsrc%5Etfw)
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