Terraform liquidator sues Jane Street, accusing insider trading of accelerating the collapse

2026-02-23 23:41:26

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According to WSJ, Todd Snyder, the court-appointed liquidation manager for Terraform Labs, has filed a lawsuit in the U.S. Federal Court in New York against Jane Street and its co-founder Robert Granieri, along with two employees, accusing them of using significant non-public information from Terraform insiders to front-run trades, profit, and accelerate the company’s collapse. The complaint states that Jane Street established a private communication channel through former Terraform intern Bryce Pratt to obtain confidential information, and less than 10 minutes after Terraform withdrew 150 million TerraUSD from the Curve liquidity pool on May 7, 2022, they simultaneously withdrew 85 million UST; they then continued to trade using the related information.

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