Jump Trading Made $1.28 Billion by Manipulating TerraUSD, Lawsuit Claims

Crime, News | May 16, 2023 By:

On Tuesday, May 9, 2023, Taewoo Kim filed a lawsuit in the U.S. District Court for the Northern District of Illinois accusing Chicago trading giant Jump Trading of purchasing substantial quantities of algorithmic stablecoin TerraUSD (UST) to manipulate its price.

The lawsuit claims that Jump Trading was an early partner and primary financial backer of Terraform Labs (TFL).