TechFlow news: A federal judge has allowed Terraform Labs to issue subpoenas to FTX, seeking documents and information related to the U.S. Securities and Exchange Commission (SEC) enforcement action in an effort to counter parts of the SEC's allegations against Terraform Labs and its founder, Do Kwon.
The subpoena requests that FTX provide records regarding "wallets, accounts, and assets used for trading" across its various trading platforms, as well as sales or offering records related to the "large volume of cryptocurrencies" developed by Terraform Labs. The request also includes wallet and trading account information for Jump Trading’s transactions involving UST or Luna on FTX between May 1, 2021, and May 31, 2022, along with any other accounts and wallets used during this period by Terra/Luna short sellers.
In the case against the stablecoin issuer, the SEC claimed that its clients entered into an agreement with Jump Trading aimed at restoring the value of UST, a claim denied by the stablecoin issuer.
