22/07/2023
*GOOD MORNING 🌞 OUR GREAT PEOPLE HERE*
News of today…
Terraform Labs, the development firm behind Terra network and the failed stablecoin TerraUSD (USTC), is seeking permission from a court to get access to data from the bankrupt crypto exchange FTX.
According to Terraform Labs, the failure of its UST stablecoin was the result of an attack by large short sellers, which the firm claimed included FTX boss Sam Bankman-Fried’s trading firm Alameda Research.
The request for the data was made in a motion filed on July 19 in FTX’s bankruptcy case.
The requested data includes records related to on-chain wallets, accounts, and assets traded on both FTX international and FTX’s US-based exchange.
“To establish these defenses, TFL needs Debtors’ records about wallets, accounts, and assets used to transact on the FTX International and US exchanges and sales/offers of large volumes of cryptocurrencies developed by TFL, if any, by FTX Trading and West Realm Shires Services Inc. d/b/a FTX US,” the filing said.
NBBC NEWS 🗞️
