Summary
TLDR: SEC attorney claims Kwon and Terraform Labs made a secret agreement with Jump to inflate UST value during prior de-peg in May 2021.
Key Points
1. SEC attorney Laura Meehan accused Kwon and Terraform Labs of making a “secret agreement” with Jump, a trading shop, during a prior de-peg in May 2021.
2. The agreement involved Jump stepping in to buy millions of dollars of UST off-chain to inflate its value and bring it back to parity with the dollar.
3. These actions were allegedly taken to manipulate the value of UST and deceive investors.