Jump Trading Group’s billion-dollar crypto unit will be managed by a 25-year-old former intern.

Spotlight:

  • According to a Tuesday statement, Jump Trading’s digital-asset business will be led by a 25-year-old former intern.
  • The company’s formal debut of Jump Crypto coincided with Kanav Kariya’s appointment to the president.
  • Jump Crypto is Jump Trading’s public-facing brand, which has taken six years to develop.

According to a Tuesday statement, a 25-year-old former intern of Jump Trading would manage the high-speed trading firm’s digital-asset business.

The company’s formal debut of Jump Crypto, the public-facing brand for its six-year-in-the-making digital asset initiative, coincided with Kanav Kariya’s appointment to the president.

“Jump Trading has spent decades focused on building the infrastructure for high performance systems and technologies,” said Kariya. “We’re bringing that muscle to crypto and aim to meaningfully contribute to the construction of the ‘plumbing and the railroads’ necessary for widespread adoption of crypto.”

Jump Trading began in the CME’s open-outcry pits, but it has now evolved into a research-driven quantitative trading business with more than 1,000 employees.
While a student at the University of Illinois, Kariya worked as an intern at Jump. The company maintained a research center near the school, and it was there that Jump’s crypto project began. According to Bloomberg, Jump hired Kariya after he graduated in 2018. He’ll lead a staff of more than 80 people throughout the world as president.

According to sources, the 25-year-old has committed billions of dollars to cryptocurrency.

According to a business statement, Jump Crypto creates software infrastructure for blockchain projects while also actively participating in trading operations that “make global crypto markets more efficient.” Jump is a founder code contributor to blockchain projects such as the Pyth network, which offers DeFi developers pricing data on equities, fiat currencies, commodities, and cryptocurrencies.