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Fortune
Fortune
Leo Schwartz

Jump Trading made 25-year-old Kanav Kariya into a crypto celebrity. He went out as the baby-faced symbol for a crypto disaster

Portraits of Kanav Kariya and Do Kwon pixelated on a purple background. (Credit: Photo Illustration by Alexandra Scimecca/Fortune; Original Photos by Eva Marie Uzcategui—Bloomberg/Getty Images; Woohae Cho—Bloomberg/Getty Images)

The Zoom meeting at Jump Crypto was always running. And in May 2021, a scrum of employees was on the screen, discussing a mounting crisis. 

The Chicago-based financial firm Jump Trading had made its name in the shadowy world of high-frequency trading during the early 2000s “Flash Boys” era, but lately, it had dipped its toes—and then its feet, legs, and torso—into the volatile cryptocurrency sector. 

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