Terraform admin blames Jane Street alleged insider trading for collapse

• Terraform admin Todd Snyder sues Jane Street for alleged insider trading. • Claims Jane Street used confidential info from Terraform insiders. • Accused of manipulating market prices, accelerating Terra collapse. • Terraform collapsed after TerraUSD lost peg, wiping $40B. • Jane Street denies claims, calls them baseless. • Do Kwon arrested, sentenced 15 years for fraud.

Article Summaries:

• Todd Snyder, the court‑appointed administrator of Terraform Labs’ bankruptcy, filed a lawsuit in Manhattan federal court against trading firm Jane Street, its co‑founder Robert Granieri, and employees Bryce Pratt and Michael Huang. Snyder alleges the firm used confidential information from Terraform insiders to manipulate market prices, selling large amounts of TerraUSD tokens just before the May 2022 collapse that wiped out $40 billion. Jane Street denies the claims, calling them “baseless” and “opportunistic.” The suit seeks damages, disgorgement, and interest, as part of the broader legal fallout from Terraform’s collapse and the arrest of co‑founder Do Kwon.

Sources:

• https://cointelegraph.com/news/terraform-admin-sues-jane-street-pins-collapse-on-alleged-insider-trading?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound