Judge allows Jump Crypto to file Terra documents confidentially in SEC lawsuit

A judge has granted Jump Crypto’s motion to confidentially submit certain materials during the discovery phase in the US Securities and Exchange Commission’s lawsuit against Terraform Labs and its founder Do Kwon.

Federal Judge Jed Rakoff filed the motion in New York Tuesday. Should the court later decide a document needs to be made public, the ruling may be overturned, Rakoff noted in his opinion. 

Jump Crypto has been accused of manipulating the price of stablecoin TerraUSD and in turn raking in a $1.28 billion profit. 

Terra, according to the SEC, loaned “a US trading firm” 30 million Terra (LUNA) tokens in November 2019 and an additional 65 million LUNA in September 2020….

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