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Do Kwon, the co-founder of Terraform Labs, is at the center of a legal storm as new revelations regarding the terraUSD stablecoin collapse in 2022 come to light.
The focus on Jump Trading arises from an incident a year prior when UST temporarily lost its peg to the U.S. dollar. Kwon had assured investors that the stablecoin maintained its $1 value due to its automated algorithm. However, experts from the SEC contend that Jump Trading played a critical role in stabilizing the coin’s value at Terraform Labs’ request.
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