Overview
- Court-appointed administrator Todd Snyder filed the complaint in Manhattan federal court on Feb. 24, seeking damages, disgorgement and a jury trial on behalf of Terraform creditors.
- The suit alleges Jane Street used material nonpublic information from Terraform insiders to trade ahead of market-moving liquidity actions during the UST depeg.
- Defendants include Jane Street co-founder Robert Granieri and employees Bryce Pratt and Michael Huang, with the complaint highlighting Pratt’s prior internship at Terraform and alleged private chat access.
- As evidentiary timing, the filing cites May 7, 2022 on-chain activity in Curve’s 3pool, alleging a Jane Street–linked wallet moved roughly 85 million UST within about 10 minutes of Terraform’s unannounced 150 million UST withdrawal.
- Jane Street denies the claims as baseless and attributes investor losses to misconduct by Terraform’s management, while the case joins prior recovery actions, including litigation targeting Jump Trading, after a collapse that erased roughly $40 billion.