ZeroHedge Claims Jane Street Engineered the 2022 Terra Crypto Winter
Description
A dark-mode X (Twitter) post by verified account zerohedge (@zerohedge) with 'X.com' shown top right. The bold-and-plain text reads: 'And there it is: Jane Street was behind the 2022 crypto winter, destroying Terraform by first depegging the token and destroying the ecosystem, then pretending it would rescue Terra, while effectively it was soaking up what little value remained.' Below are two screenshots of heavily redacted legal-filing pages (numbered paragraphs 110-149) describing Terraform's UST stablecoin, the Curve 3pool/4pool liquidity pools (UST, USDC, USDT, DAI, FRAX), Terraform withdrawing 150 million UST at 5:44 pm EST, Jane Street selling 85 million UST minutes later at 5:53 pm EST, a group message from Pratt to Do Kwon ('Hey @dokwon, just wanted to express our interest in bidding on either BTC or LUNA'), references to Bill Disomma of Jump Trading, and UST's value plummeting to $0.42 by May 12, 2022. Large black redaction bars cover portions of the filing. The post alleges market manipulation behind the UST/LUNA collapse that triggered the 2022 crypto crash
Comments
10Comment deleted
Turns out the 'algorithmic' part of the stablecoin was Jane Street's OCaml execution engine all along
The complaint alleges Jane Street’s lowest-latency market-data feed was a private chat.
Yooooo, English whorebots, that's a new one to me Comment deleted
Oh hey a lot of the math scipop content I've seen has been sponsored by them... I guess that's where the money came from Comment deleted
same… Comment deleted
Who's Jane Street?? Comment deleted
Idk, maybe JP Morgan and Chase know, ask them Comment deleted
Hedge fund thing Comment deleted
Sued for what? How is selling something illegal? Comment deleted
They didn't get sued for dumping BTC. They got sued for insider trading during the Terra collapse. The fact that the 10am BTC dumps stopped might as well be a coincidence. Non of that is proven yet anyways. The allegation that people have is that Jane Street was dumping BTC to crash the market and buy back cheaper afaik Comment deleted