🎉Good news! Alexander Osipovich, a reporter for the Wall Street Journal, published an article on the X platform, revealing that Jump Trading is an important supporter of Do Kwon's Terra/Luna project. 🔍Evidence disclosed by the SEC shows that Kwon has a close relationship with Kanav Kariya, president of Jump Crypto. 🤝In 2020, Jump agreed to provide liquidity for UST and Luna, which was very important to Kwon. In return, Jump received call options on Luna, which later became very profitable as Luna's price soared. 💰

However, in May 2021, UST de-anchored and fell below $1. 😱 Jump began to trade actively, seeking to help UST restore its anchor. Jump co-founder Bill DiSomma approved the risk of "spending hundreds of millions of dollars" to save UST, and said it was crucial to Jump's credibility in the cryptocurrency field. 👍

However, the SEC believes that Terraform Labs' failure to disclose Jump's role was a major omission and constituted securities fraud. The jury also agreed with this view. 😮It is worth noting that Jump has not been accused of any wrongdoing. Kanav Kariya and Bill DiSomma have not been accused of wrongdoing either. 👏In the case against Terraform Labs, when the US SEC subpoenaed them for evidence, both refused to testify on the grounds of the Fifth Amendment of the US Constitution. 🤐

Previously, Do Kwon was found responsible for civil fraud. It is reported that the SEC charged Terraform and Kwon in February 2023 for the collapse of the algorithmic stablecoin TerraUSD (UST). 🔔