Terraform Labs liquidators have filed a lawsuit against Jump Trading, seeking $4 billion in damages over alleged manipulation of the TerraUSD peg during a 2021 market stress event. The lawsuit also names William DiSomma and Kanav Kariya, accusing them of profiting from Luna sales while concealing their involvement in stabilizing the stablecoin. This legal action follows a $128 million fine imposed by the SEC on Jump's crypto unit for similar activities. Terraform Labs, which declared bankruptcy in 2024, has already repaid $300 million to its creditors. The lawsuit comes amid increasing regulatory scrutiny on crypto firms as global efforts to counter the financing of terrorism intensify. Despite these challenges, Bitcoin continues to be viewed as a hedge against inflation, maintaining its relevance in the evolving regulatory landscape.
Terraform Labs Sues Jump Trading for $4 Billion Over TerraUSD Manipulation
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