The Securities and Exchange Commission (SEC) has probed Jump Crypto president Kanav Kariya’s involvement in the civil lawsuit against Terraform Labs.
The SEC is looking into whether Kariya engaged in a secret agreement with Terraform Lab’s founder, Do Kwon, during the depegging and crash of Terra’s (UST) stablecoin in May 2021.
According to Terraform personality FatMan, the agency questioned Kariya On November 8, the Jump president mostly avoided answering the agency’s questions by pleading with the Fifth.
The SEC counsel Devon Staren deposed Kariya by asking for a deal in which Jump was to help Terraform restore the UST peg by purchasing tokens, and in exchange, Do Kwon would amend conditions for Jump’s LUNA vesting schedule. While avoiding answering, Kariya invoked the right to plead the Fifth.
Staren also shared two documents with a video and a screenshot regarding the lawsuit. After the video was played and Staren asked if he recognized it, Kariya again repeated the same to exercise his right under the Fifth Amendment and declined to answer.
The questioning from the SEC also hinted at accusations of Jump manipulating the price of UST and AnchorUST for alleged benefits in May 2021. Kariya’s deposition occurred on August 18, while the court filing was shared days ago on October 28.