US EditionTerraform’s Bankruptcy Boss Sues Jump Trading for $4B Over Terra Crash
Terraform's bankruptcy administrator alleges Jump Trading manipulated markets and concealed actions to profit billions from the $40 billion TerraUSD collapse, impacting thousands of investors.
- Thursday, Todd Snyder, the court‑appointed Terraform bankruptcy plan administrator, filed a federal suit in Illinois seeking $4 billion from Jump Trading, William DiSomma and Kanav Kariya, the Plan Administrator says the suit alleges Jump’s direct role in the collapse and seeks to hold it accountable.
- Terraform Labs’ algorithmic stablecoin TerraUSD lost its dollar peg and Luna plunged toward near zero, erasing about $40 billion in value and triggering widespread failures; Terraform filed for bankruptcy and recovered about $300M for creditors.
- The Plan Administrator alleges manipulation and self‑dealing by Jump that enriched the firm while prior SEC filings show Jump made about $1 billion from selling Luna.
- Terraform’s Post‑Chapter 11 X account confirmed the Wall Street Journal’s report on Friday, as the Plan Administrator says the suit is a necessary step to hold Jump Trading accountable for its role in the collapse.
- The Office of the Terraform Labs Plan Administrator filed a $4.5B lawsuit against Jump Trading, seeking to hold it accountable for alleged market manipulation and the crypto collapse.
28 Articles
28 Articles
Jump Trading Hit with $4B lawsuit Tied to Terra’s $50B Crash - Invest In Crypto News
The administrator of Terraform Labs’ bankruptcy, Todd Snyder, has filed a lawsuit seeking $4 billion in damages from trading company Jump Trading and multiple executives. According to a Friday Wall Street Journal report, the lawsuit alleges that Jump Trading unlawfully profited from and contributed to the 2022 crash of Terra. Alongside the company, the suit is also aimed at its co-founder, William DiSomma, and the former president of the crypto …
Bitcoinist
Cryptocurrency News | Cryptocurrency Prices | Market CapTerraform Labs Sues Jump Trading For Alleged Role In 2022 Collapse
The legal troubles surrounding the collapsed Terraform Labs persist despite the recent sentencing of its founder, Do Kwon, to 15 years in prison by US authorities. Following Kwon’s conviction, the company’s bankruptcy administrator has initiated a lawsuit against Jump Trading. Terraform Labs Files $4 Billion Lawsuit On social media platform X (formerly Twitter), the Office of the Terraform Labs Plan Administrator announced that it is pursuing a …
Terraform Labs Sues Jump Trading Over Alleged Role in Terra Collapse
The fallout from the 2022 Terra implosion is not over. The administrator winding down what remains of Terraform Labs has filed a sweeping lawsuit against Jump Trading, accusing the high-frequency trading giant of unlawfully profiting from, and materially contributing to, the collapse of the Terra ecosystem. The suit, first reported by the Wall Street Journal, seeks roughly $4 billion in damages and reopens one of crypto’s most destructive chapte…
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
