Terraform wants wallet and account information from FTX that it says may prove its argument that short sellers caused the Terra/Luna crash.
The subpoena relates to the stablecoin issuer’s defense against an enforcement case brought by the Securities and Exchange Commission.Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.A federal judge is allowing Terraform Labs, the issuer of the crashed Terra algorithmic stablecoin and related Luna governance token, to issue a subpoena to bankrupt crypto giant FTX.
On Monday, Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware gave special leave for the algorithmic stablecoin company to compel the currently defunct trading platform to provide documents and information relevant to Terraform’s argument. In its case against the stablecoin issuer, the SEC has argued that their clients entered into an agreement with Jump Trading to restore UST’s value, which the stablecoin issuer denies. The subpoena intends to produce evidence to disprove that part of the SEC’s case against Terraform and its founder Do Kwon, who is currently held in a Montenegrin prison on unrelated charges.
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