Terraform Labs Plan Administrator Files $4B Illinois Complaint Against Jump Trading

On December 19, 2025, Terraform Labs' Plan Administrator filed a lawsuit in Illinois seeking $4B from Jump Trading, William DiSomma, and Kanav Kariya. The complaint alleges a secret arrangement to support UST's peg and ties the collapse to a $40B wipeout. Late last year, the SEC fined a Jump Crypto subsidiary $123M related to UST stabilization.