(Bloomberg) -- Kanav Kariya, the head of Jump Trading’s crypto unit, said he is leaving the company, a departure that follows a difficult two years that saw both Kariya and Jump at the center of one of crypto’s largest collapses.

“Today marks the end of an incredible personal journey for me. It’s my last day at Jump,” Kariya said in a post on X, without elaborating on his reasons for leaving the firm. “As for what’s next, 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.”

Jump Crypto, which has become one of the world’s top market-making firms for digital assets, was a major backer of the failed TerraUSD stablecoin project. It was among the trading firms questioned by US prosecutors in a probe of the token’s May 2022 collapse.

Kariya was promoted to president of the firm’s crypto business in September 2021 at age 25, when the Chicago-based company debuted Jump Crypto as the public-facing brand for its digital asset division. Jump declined to comment on his departure.

Terraform Labs Inc., which issued the now-defunct TerraUSD and its sister token Luna, agreed to pay nearly $4.5 billion in a settlement with the US Securities and Exchange Commission this month, following a trial that found the firm and its co-founder Do Kwon liable for fraud. The SEC had presented evidence about Jump’s long-running involvement with the company, though Jump was not accused of wrongdoing in the case.

The Commodity Futures Trading Commission is said to be investigating Jump’s crypto trading and investment activities, Fortune reported on June 20. 

Jump pulled back from its digital-asset trading activities in the US last year due to growing regulatory uncertainty in the region. It continued to expand internationally, however, and remains an active player in the sector.

Terra’s demise wasn’t the only time Jump faced difficulty in the crypto industry. The trading house stepped in with about $320 million in cryptocurrency to cover losses at Wormhole, a project it helped develop, when the software platform was hacked in February 2022.

--With assistance from Katherine Doherty.

(Updates with context from fifth paragraph onwards)

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