Terraform sues Jane Street, accuses it of insider trading tied to its 2022 collapse

The bankruptcy administrator of blockchain company Terraform Labs sued trading firm Jane Street for insider trading. Terraform alleged Jane Street used non-public information from Terraform insiders to execute trades linked to the 2022 collapse of TerraUSD and Luna, which wiped out about $40 billion in market value of the cryptocurrencies. It was one of the largest failures in cryptocurrency history.