Sources familiar with the Securities and Exchange Commission’s (SEC) lawsuit against Do Kwon have ដាក់ឈ្មោះ Jump Crypto as the beneficiary of $1.28 billion dollars in profit from his decimated crypto empire, Terra Luna.
Do Kwon is facing civil charges in the US. The SEC ចោទប្រកាន់ that he and his company, Terraform Labs, raised billions of dollars through unregistered securities.
At its peak, Terra Luna’s ecosystem claimed mark-to-market capitalization in excess of $40 billion. Today, it’s barely millions. The governance token and stablecoin at the center of that empire are worth less than one cent.
Nevertheless, sources told reporters that the crypto arm of Chicago-based trading firm Jump Trading earned billion-dollar profits from Terra Luna. Jump Crypto was also closely tied to Sam Bankman-Fried and his favorite blockchain, Solana. Jump Crypto bailed out the Solana-Ethereum bridge, Wormhole, within hours of its $300+ million hack.