SEC alleges Jump Trading propped up TerraUSD before it collapsed

Some of this has been reported, but now the SEC has confirmed it.

Now, according to new court filings from the Securities and Exchange Commission (SEC), the high-frequency crypto trading firm Jump Trading propped up Do Kwon’s the failed TerraUSD (UST) a year before its collapse.

Substantial news if it ultimately turns out to be true. It means Do Kwon knew an entire year before the collapse that his algorithmic stablecoin wasn’t as great and wonderful as he peddling to the crypto community.

It means Jump Trading was able to buy a Luna crypto currency for pennies on the nearly $100 that it was worth at the time.

Another Bernie Madoff.

This is very infuriating.