Jump Crypto filed docs confidentially in SEC v. Terraform Labs case
Summary
A federal judge has agreed to accept materials from Jump Crypto Holdings in the ongoing SEC case against Terraform Labs. The crypto trading company was under scrutiny from the SEC over its alleged role in the depegging of TerraUSD (UST) and subsequent collapse of Terra. The court approved the confidential treatment of Jump's material, but retains the right to make any such materials public in the future. Critics argue that Jump Crypto purposely manipulated the price of UST for profit. Terraform Labs and its co-founder Do Kwon were charged by SEC for allegedly orchestrating securities fraud. Kwon was later arrested by Montenegrin authorities and may face charges in either the US or South Korea.
