Jump Crypto, a firm heavily involved in the defunct Terra blockchain, said that some large investors exited Terra-related positions as the TerraUSD (UST) stablecoin began to lose its peg, while small investors continued buying during the collapse.
That detail was part of a report on Terra’s meltdown in early May that Jump Crypto, the crypto unit of Chicago-based Jump Trading, published on Thursday.
Until now, the firm has largely remained silent about Terra’s demise -- including how Terra’s backer, Luna Foundation Guard, allocates its remaining funds to compensate users of UST, or steps the firm took in a failed effort restore the coin’s 1-to-1 peg to the dollar.
While Jump’s president, Kanav Kariya, is listed on the foundation’s website as a member of its governing council, the report does not discuss his firm’s role in the stablecoin drama.
But the findings, based on publicly available blockchain transactions -- excluding internal data at Jump -- indicates that several large...
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