Terraform liquidator accuses Jane Street of dumping UST and shorting based on insider information from a private Telegram group

Odaily Odaily planet Daily news According to recently unsealed court documents, Wall Street quantitative trading giant Jane Street is accused of obtaining non-public internal information from Terraform Labs through a private Telegram group called "Bryce’s Secret" before the Terra collapse in 2022. It allegedly sold approximately $192 million UST ahead of time while establishing short positions, profiting around $134 million from the collapse of Terra's approximately $40 billion ecosystem. The complaint states that on May 7, 2022, just nine minutes after Terraform withdrew $150 million in liquidity from the Curve pool, Jane Street sold roughly $85 million UST on Curve, and the associated wallet was subsequently suspected to be a key address that triggered the UST de-pegging. Jane Street denies the allegations, calling the lawsuit "baseless" and stating it will vigorously defend itself. The lawsuit also names co-founder Robert Granieri and trader Michael Huang, accusing them of violating federal securities laws and the Commodity Exchange Act. (CoinDesk)