SEC investigates whether Jump Crypto president entered into secret agreement with Do Kwon during UST collapse

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Cointime2023/11/08 23:18

By:Cointime

The US Securities and Exchange Commission (SEC) has begun an investigation into whether Jump Crypto CEO Kanav Kariya signed a secret agreement with Do Kwon of Terraform Labs during the collapse of stablecoin TerraUSD. As part of the SEC's civil lawsuit against Terraform Labs, SEC lawyer Devon Staren dismissed Kanav Kariya in August, stating that Kwon and Kariya signed an agreement on May 23, 2021 (a few weeks after UST decoupled), in which Jump would help restore the UST peg by purchasing tokens. In exchange, Kwon allegedly agreed to modify Jump's LUNA loan agreement and cancel the exercise conditions. Kanav Kariya declined to answer the question.

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