Golden Finance reports that on March 25, Jump Trading responded to a lawsuit filed by Todd Snyder, the trustee of the Terraform Labs bankruptcy trust, on Monday. Snyder filed suit last December against Jump Trading, its subsidiaries, and two executives, accusing them of market manipulation, investor fraud, and self-trading, seeking $4 billion in damages.
In its response, Jump Trading stated that the lawsuit is Snyder’s “transparent attempt” to evade the $4.4 billion fine imposed on Terraform Labs by the U.S. Securities and Exchange Commission (SEC) in 2024, and claimed that Snyder “fabricated a series of allegations aimed at shifting the responsibility of Terraform to the SEC and its creditors onto the defendants.” Jump Trading also pointed out that the lawsuit lacks key details, fails to specify the conduct of each defendant, does not identify the location of the alleged violations, and is beyond the statute of limitations, and should be dismissed.
According to previous court records, during the 2021 UST de-pegging event, Jump Trading assisted Terraform Labs in maintaining the UST peg by大量 buying UST to support its price, but both parties’ executives kept this confidential. Terraform Labs founder Do Kwon has previously been sentenced to 15 years in prison for two counts of fraud.
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