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Apr 25, 2026

Jane Street Files to Dismiss Terraform Labs Insider Trading Lawsuit Over Terra Collapse

Jane Street filed a motion to dismiss Terraform Labs' lawsuit alleging the trading firm used insider information during the $40 billion Terra/UST collapse. Jane Street argues the timing doesn't support the allegations and that the case rehashes events already settled in court.

Apr 25, 2026·4 sources
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Top claims

  • ▪Todd Snyder, the administrator overseeing Terraform Labs' winding down, filed a lawsuit against Jane Street in February 2025.
  • ▪Jane Street began building its short position on UST and LUNA on May 8, 2022 before allegedly receiving insider information about a possible rescue package.
  • ▪Bryce Pratt worked as an intern for Terraform Labs until September 2021.

Topics

StablecoinsDeFiCrypto market integrity & manipulationLandmark crypto casesCrypto regulation

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