Overview
- Terraform Labs’ bankruptcy administrator filed an 83‑page complaint on Feb. 23 accusing Jane Street and named individuals of insider trading tied to the 2022 TerraUSD collapse, which the firm calls baseless.
- Bitcoin jumped roughly 6–7% to near $68,000 as viral posts claimed the recurring 10 a.m. sell-off vanished, though those assertions remain unverified.
- Market researchers say the intraday pattern aligns with ETF authorized‑participant mechanics and broader risk‑asset moves, noting Jane Street is a major AP and held about $790 million of BlackRock’s IBIT per Q4 filings.
- Reporters and analysts report no on‑chain or exchange evidence linking Jane Street to a coordinated daily sell program despite heightened social‑media allegations.
- The lawsuit details a May 7, 2022 episode in which Terraform withdrew 150 million UST from Curve and a Jane Street‑linked wallet allegedly sold $85 million in UST within minutes.