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Jane Street Accused of Insider Trading in UST Collapse, Sold $192M and Profited $134M

GateNews
Enforcement ActionsSecurity Incidents
LUNA0.41%
CRV0.59%
According to newly unsealed court documents, Jane Street was accused of obtaining non-public information from Terraform Labs via a private Telegram group called "Bryce's Secret" and using it to dump approximately $192 million in UST while establishing short positions ahead of Terra's 2022 collapse, netting roughly $134 million in profits. Court filings allege that on May 7, 2022, just 9 minutes after Jane Street withdrew $150 million in liquidity from Curve, the firm sold approximately $85 million in UST on the platform. The lawsuit names co-founder Robert Granieri and trader Michael Huang, alleging violations of federal securities laws and the Commodity Exchange Act. Jane Street denied the allegations, calling the litigation "without merit" and stating it would defend itself vigorously.
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