TechFlow news — Wall Street Journal reporter Alexander Osipovich wrote that Jump Trading was a key backer of Do Kwon's Terra/Luna project. Public exhibits show Kwon developed a close relationship with Kanav Kariya, president of Jump Crypto, who emphasized they should communicate via Signal.
Jump co-founder Bill DiSomma approved risking "hundreds of millions of dollars" to save UST. Internally, Terraform Labs acknowledged Jump’s role in the rescue effort. However, in external communications, Terraform Labs did not disclose Jump’s involvement in restoring the peg.
The SEC argues that Terraform Labs’ failure to disclose Jump’s role constituted securities fraud—and the jury agreed. Jump has not been accused of any wrongdoing.
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