May 21
Jane Street allegedly used insider info to profit from UST collapse
Court filings allege Jane Street sold $193M in UST before its collapse using insider info from a private Telegram group, then made $134M shorting the token.
➤ Court filings allege Jane Street used insider information from a private Telegram group to profit from the TerraUSD (UST) stablecoin collapse. ➤ Jane Street allegedly sold $193M in UST before its de-pegging and made $134M by shorting the token, while denying any wrongdoing and citing publicly available information. ➤ The case raises questions about insider trading in crypto, the role of communication platforms like Telegram, and faces legal challenges regarding jurisdiction and the Wagoner rule.