Jane Street Moves to Dismiss Terraform Insider Trading Lawsuit
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Jane Street asked Judge Dale E. Ho (SDNY) to dismiss with prejudice a lawsuit by Terraform’s bankruptcy administrator alleging the firm used non-public information to trade ahead of the 2022 TerraUSD/LUNA collapse that wiped out about $40 billion. Jane Street denies the insider-trading claims, says Terraform is shifting blame for fraud tied to founder Do Kwon; the case elevates legal and market-risk scrutiny for crypto trading desks and could affect DeFi/CEX trust and regulatory attention.
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- Jane Street asked a US judge to dismiss Terraform’s lawsuit over alleged insider trading.
- The firm said Terraform is trying to shift blame for fraud tied to founder Do Kwon.
- The case is now before Judge Dale E. Ho in the Southern District of New York.
Jane Street Group has asked a US judge to dismiss a lawsuit that accuses the trading firm of using inside information before the 2022 collapse of Terraform Labs’ crypto ecosystem.
The case was filed by the bankruptcy administrator handling Terraform’s wind-down. The suit claims that Jane Street used non-public information and engaged in trading activity to profit ahead of the $40 billion crash tied to TerraUSD and LUNA.
Jane Street denied all claims in a court filing on Thursday and asked the court to throw out the case with prejudice, which would prevent the same claims from being filed again.
Jane Street…
Read The Full Article Jane Street Moves to Dismiss Terraform Insider Trading Lawsuit On Coin Edition.
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