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Terraform Labs Sues Jump Trading for $4B Over 2022 Collapse

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Terraform Labs' administrator has sued Jump Trading for $4 billion, alleging market manipulation tied to the 2022 Terra collapse. The case, led by Todd Snyder, names executives William DiSomma and Kanav Kariya, accusing them of hiding efforts to prop up TerraUSD before its depeg. The SEC previously found Jump’s crypto unit, Tai Mo Shan, had intervened in a 2021 TerraUSD event. Jump Trading denies the claims. Administrators have recovered $300 million for creditors. The case could impact liquidity and crypto markets, as regulators continue to focus on Countering the Financing of Terrorism through financial oversight.
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