Court Accepts Discovery Documents From Jump Crypto
In the ongoing SEC lawsuit against Terraform Labs (Terra) and co-founder Do Kwon, the court has agreed to accept certain discovery documents from Jump Crypto. These materials will be treated as confidential, as outlined in a letter by Jump Crypto’s attorney. However, the court has made it clear that it can make these confidential materials public if deemed necessary.
The court has also reminded Terra, Do Kwon, and related parties that any confidential information submitted may be disclosed later in the motion practice or trial. The court will provide prior notice to the defendants’ counsel when the disclosure of confidential documents is required.
Judge Rakoff has also agreed to hear objections from Jump Crypto’s counsel. Jump Trading and its CEO Kanav Kariya are accused of manipulating UST (now USTC) price for a profit of nearly $1.3 billion.
SEC Gains Advantage in Terra Lawsuit
In a recent development, the judge ruled in favor of the SEC during the Daubert hearing, allowing two experts for the SEC and one expert for Terra to testify in the lawsuit. This ruling gives the SEC an upper hand in the case.
In addition, Montenegro’s higher court has approved Do Kwon’s extradition, and Minister of Justice Andrej Milović will decide which country has priority for extradition. The US SEC is considering requesting Do Kwon’s extradition to the United States first.
Hot Take: Court Accepts Confidential Documents in Terra Lawsuit
The court’s decision to accept confidential documents from Jump Crypto is a significant development in the SEC lawsuit against Terra and Do Kwon. While these materials will remain sealed for now, there is a possibility that they could be made public if deemed necessary by the court. This decision highlights the importance of transparency in legal proceedings and ensures that the defendants and their parties are aware of the potential disclosure of confidential information. With the SEC gaining an advantage in the case through the approval of expert testimonies, it remains to be seen how this lawsuit will unfold and what impact it will have on the crypto industry.
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