Jane Street has asked a US court to dismiss a lawsuit filed by the administrator of Terraform Labs, arguing that the claims of insider trading are unfounded.
The lawsuit centres on the collapse of the Terra ecosystem in 2022, which wiped out around $40 billion in market value. Terraform’s administrator alleges that Jane Street traded tokens based on nonpublic information, worsening the collapse.
Jane Street has strongly denied these claims, stating that its trading decisions were based entirely on publicly available market signals. The firm argues that Terraform is attempting to shift responsibility for its own failures.
The collapse has already led to legal consequences for Terraform’s founder, Do Kwon, who was convicted on fraud-related charges. Jane Street’s filing highlights what it sees as inconsistencies in the lawsuit, including claims that key trades occurred after relevant information had already become public.
The case reflects ongoing legal battles over accountability in crypto market failures and could set important precedents for future disputes.
Source: X.com
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