According to new court documents from the Securities and Exchange Commission (SEC), Chicago-based company Jump Trading LLC secretly supported the algorithmic stablecoin Terra (UST) created by Do Kwon a year before the project ultimately collapsed. According to the Wall Street Journal, Jump Trading made a staggering $1.28 billion in profits from the scheme. The documents also reveal the role of Terra founder Do Kwon in the scheme, who is accused of making false claims about the project's stability and performance, leading investors to invest their money. In addition, the company purchased more than 62 million stablecoin tokens, pushing its price back to $1 and supporting a Ponzi scheme. These revelations raise questions about the transparency and integrity of the UST project. Jump Trading has not yet been accused of illegal conduct in connection with the UST project, although the company faces a class action lawsuit from an investor.

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