TLDR Tech / Fintech
Jane Street sued for alleged insider trading tied to Terraform collapse
The court-appointed administrator for Terraform Labs is suing Jane Street, alleging the firm used non-public information to front-run trades and unwind hundreds of millions in exposure shortly before the TerraUSD/Luna collapse in 2022. Jane Street called the lawsuit “baseless” and said it will defend itself vigorously, arguing investor losses stemmed from Terraform's own multibillion-dollar fraud. The suit follows a separate $4 billion claim filed against Jump Trading as efforts continue to recover funds for creditors after the $40 billion ecosystem implosion.
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