Colleen Sullivan, the CEO and co-founder of CMT Digital, the investment arm of Chicago-based proprietary trading firm CMT Group, has stepped down, according to a report from TheStreet.

• The report cites two people familiar with the matter and does not say who will be replacing Sullivan.
• CMT Digital has invested in several large firms in the cryptocurrency industry, including crypto derivatives platform ErisX, crypto lender BlockFi, blockchain lending startup Figure, crypto-friendly Silvergate Bank and crypto venture capital pioneer Polychain Capital.
• Under Sullivan's leadership, CMT created the DeFi Alliance with other trading firms in Chicago last year.
• The company has not responded to a request for comment from CoinDesk or stated anything publicly on its Twitter page.

This is a developing story. Check back for updates.