News Explorer — Jane Street Traders Allegedly Obtained Insider Info From Terraform Employees Before Selling Off TerraUSD

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May 21, 12:40 pm

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Jane Street Traders Allegedly Obtained Insider Info From Terraform Employees Before Selling Off TerraUSD

An amended complaint alleges that Jane Street traders used a private chat to obtain insider information from Terraform employees before selling their $192 million TerraUSD position hours before the stablecoin's collapse. The court-appointed Terraform Labs plan administrator accused Jane Street of insider trading and shorting Terra tokens during the $40 billion crash in May 2022.

An amended complaint alleges that Jane Street traders used a private chat to obtain insider information from Terraform employees before selling their $192 million TerraUSD position hours before the stablecoin's collapse. The court-appointed Terraform Labs plan administrator accused Jane Street of insider trading and shorting Terra tokens during the $40 billion crash in May 2022.

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