Jane Street seeks dismissal of Terraform Labs’ insider trading lawsuit
Crypto Briefing
Jane Street has filed a motion to dismiss a $4 billion insider trading lawsuit brought against it by the Terraform Labs bankruptcy estate.Summary
Jane Street is seeking to dismiss a $4 billion lawsuit filed by the Terraform Labs bankruptcy estate, which alleges the firm traded on nonpublic information during the 2022 collapse of the Terra ecosystem. Jane Street argues that the estate lacks standing under the Wagoner Rule, claiming that Terraform—not Jane Street—was responsible for the fraud. The firm further contends that its trading decisions were based on public information and that the estate is attempting to shift blame for a catastrophe caused by founder Do Kwon. The case highlights broader questions about insider trading definitions and accountability within decentralized finance.
(Source：Crypto Briefing)