Jane Street Sued for Insider Trading by Terraform Administrator

Jane Street faces a lawsuit for alleged insider trading tied to Terraform Labs’ 2022 collapse, filed by the firm’s administrator overseeing its wind-down. The lawsuit claims Jane Street exploited non-public information before Terraform’s $40 billion implosion, which destabilized crypto markets and contributed to FTX’s downfall. Filed in February 2026, the case targets one of Wall Street’s largest quantitative trading firms, escalating legal scrutiny over crypto-market manipulations. Terraform’s collapse—centered on its failed algorithmic stablecoin—remains a pivotal event in crypto history, with ongoing litigation targeting multiple firms. The administrator seeks damages, alleging Jane Street profited unfairly while Terraform’s investors suffered catastrophic losses during the 2022 market crash.