Judge Gives Genesis 5 Days to Respond to Subpoena in Terraform Case

According to a New York district judge, Genesis has been ordered to comply with a subpoena after failing to provide certain documents in a case related to the collapse of TerraUSD.

The order, issued by Judge Jed Rakoff, requires Genesis to produce the documents within five days of being served the order.

The case involves the bankruptcy of certain Genesis entities following losses related to the collapse of crypto hedge fund Three Arrows Capital and crypto exchange FTX.

The specific information that must be produced is not specified in the order, but the case revolves around the SEC’s lawsuit against Terraform Labs and founder Do Kwon for alleged fraud and failure to disclose information about their algorithmic stablecoin, which resulted in significant losses for investors.