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.