Throughout her closing arguments on Friday, SEC legal professional Laura Meehan instructed the jury that in a previous de-peg in Might 2021, Kwon and Terraform Labs made a “secret settlement” with Leap, a buying and selling store that acted as a market maker for Terraform Labs, to step in and purchase hundreds of thousands of {dollars} of UST off-chain to inflate the worth and convey it again to parity with the greenback.
