In the bankruptcy case of FTX cryptocurrency exchange, a judge authorized Terraform Labs to issue a subpoena to gather information for use in its lawsuit against the U.S. Securities and Exchange Commission. FTX's debtor attorneys accepted the court order without objection.
Terraform Labs seeks subpoena powers to collect digital wallet records related to the use of short sellers involving FTX entities around May 2022, including the reasons for their failure. The filing also mentions that FTX and Terraform Labs have confidentiality agreements related to the SEC lawsuit.
Terra co-founder Do Kwon is currently serving a four-month sentence in Montenegro for using forged travel documents and could face extradition from the United States or South Korea on fraud charges.