Terra 🌍 Powered by LUNA 🌕 Re-poster
Post-Chapter 11, Terraform Labs began winding down and is no longer active. All official Delaware U.S. Court bankruptcy filings are at the profile link.
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Legal proceedings have been launched by the Office of the Terraform Labs Plan Administrator against Jane Street. The lawsuit charges the firm with engaging in deceptive trading strategies, market manipulation, and insider trading that were instrumental in the May 2022 downfall of Terraform Labs.
According to the complaint, Jane Street allegedly utilized material non-public information to conduct a concentrated $85M UST sale. This transaction reportedly occurred just minutes after a confidential withdrawal of liquidity. The filing argues that these actions allowed Jane Street to evade significant losses, while investors collectively faced billions in damages.
The objective of this litigation is to secure recoveries for creditors and ensure Jane Street is held responsible for allegedly exploiting the ecosystem during a pivotal moment in crypto history.
Read more here:
According to the complaint, Jane Street allegedly utilized material non-public information to conduct a concentrated $85M UST sale. This transaction reportedly occurred just minutes after a confidential withdrawal of liquidity. The filing argues that these actions allowed Jane Street to evade significant losses, while investors collectively faced billions in damages.
The objective of this litigation is to secure recoveries for creditors and ensure Jane Street is held responsible for allegedly exploiting the ecosystem during a pivotal moment in crypto history.
Read more here:
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