Terraform Labs sued Jump Trading and senior executives for $4 billion, alleging the firm manipulated Terra’s ecosystem and unlawfully profited from the crash, the WSJ reported. The administrator of Terraform Labs’ bankruptcy, Todd Snyder, has filed a lawsuit seeking $4 billion in damages from trading company Jump Trading and multiple executives. According to a Friday Wall Street Journal report, the lawsuit alleges that Jump Trading unlawfully profited from and contributed to the 2022 crash of Terra. Alongside the company, the suit is also aimed at its co-founder, William DiSomma, and the former president of the crypto trading department, Kanav Kariya. Terraform Labs and the Terra blockchain ecosystem collapsed in 2022 when its native algorithmic stablecoin, TerraUSD (UST), lost its peg to the US dollar. The stablecoin was backed by a Terra inflationary mechanism, and when the peg was lost, the LUNA token saw an issuance and sell-off shock. The crash led to about $50 billion in losses. Read more
Bybit is relaunching in the UK with a stripped‑back spot and P2P platform, reopening a market it exited after the Financial Conduct Authority’s (FCA) 2023 crackdown. Bybit says it is returning to the United Kingdom after a two‑year pause with a new UK platform offering spot trading on 100 pairs and a peer‑to‑peer venue. The Dubai‑based exchange shut off local UK customers in late 2023 when the Financial Conduct Authority’s (FCA) tougher financial promotion rules kicked in. According to a press release shared with Cointelegraph, the service is being rolled out under a promotions arrangement approved by Archax, an FCA‑authorized firm, rather than via Bybit’s own registration or authorization in the UK. Read more
Ebury, the global fintech specializing in international payments and foreign currency risk management, has appointed Cosmin Bucur as Country Manager for Romania.
New research models how crosschain price gaps and capital friction are eroding efficiency as tokenized markets scale across blockchains. Fragmentation across blockchain networks is already imposing a measurable economic cost on the tokenized asset market, with inefficiencies translating into up to $1.3 billion in annual value drag. In a report sent to Cointelegraph, real-world asset (RWA) data provider RWA.io argued that while blockchains accelerated innovation, they also created walls that trap liquidity and prevent capital from moving freely across networks. As a result, tokenized RWAs have increasingly behaved like disconnected markets rather than a single, unified financial system. The research found that identical or economically equivalent assets routinely trade at different prices across chains, while moving capital between networks remained costly and complex. Read more
Metaplanet will debut US trading via American Depositary Receipts, aiming to broaden access for US investors without raising new capital. Metaplanet, a Japanese Bitcoin treasury company, is set to begin trading in the United States on the OTC market via American Depositary Receipts (ADRs). Trading in Metaplanet’s ADRs is expected to start on Friday, with its shares listed in US dollars on the over-the-counter (OTC) market under the ticker symbol MPJPY, according to an announcement. “This directly reflects feedback from US retail and institutional investors seeking easier access to our equity,” Metaplanet CEO Simon Gerovich said in an X post on Friday, adding that the launch marks another step to broader global access to the company. Read more