Kanav Kariya, the head of Jump Trading’s digital asset subsidiary, has announced his resignation as the president of Jump Crypto amidst reports of a Commodity Futures Trading Commission (CFTC) investigation. In a social media post on June 24, Kariya expressed his intention to focus on personal relationships and reading while seeking new opportunities. Reflecting on his time at Jump Crypto, he described it as 'eventful.' The firm faced challenges in February 2022 when hackers exploited the Wormhole bridge, resulting in the fraudulent minting of 120,000 wETH tokens. Subsequently, Jump Crypto took responsibility by depositing Ether tokens worth $321 million into the bridge. Allegations of profit manipulation and exposure to FTX have also surfaced, leading to investor concerns. The CFTC investigation's details remain undisclosed, but it may involve trading activities mentioned in lawsuits and regulatory cases. It is emphasized that the investigation does not imply wrongdoing until findings are made. Read more AI-generated news on: https://app.chaingpt.org/news