Judge allows Jump Crypto to keep Terra-related documents confidential in SEC lawsuit

A judge has granted Jump Crypto’s motion to confidentially submit certain materials during the discovery phase of the SEC’s lawsuit against Terraform Labs and its founder Do Kwon. Federal Judge Jed Rakoff filed the motion Tuesday in New York. Rakoff noted in his opinion that the ruling could be overturned if the court later decides a document needs to be released. Jump Crypto has been accused of manipulating the price of stablecoin TerraUSD, resulting in a $1.28 billion profit. According to the SEC, Terra lent 30 million Terra (LUNA) tokens to “a U.S. trading firm” in November 2019 and another 65 million LUNA in September 2020. According to The Block, the trading company involved is Jump Crypto. (Blockworks)