Terraform Labs liquidator sues Jane Street for insider trading and seeks damages

2026-02-24 00:11:13

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Odaily Planet Daily reports that Terraform Labs liquidation plan manager Todd Snyder announced that a lawsuit has been filed in the Manhattan Federal Court against trading giant Jane Street and its co-founder Robert Granieri, among others.

Todd Snyder accuses Jane Street of using significant non-public information from insiders at Terraform Labs to conduct insider trading, thereby illegally profiting during the de-pegging of TerraUSD and the collapse of the Terra ecosystem. The complaint states that Jane Street established a secret channel with former intern Bryce Pratt and internal Terraform Labs employees to obtain confidential information. On May 7, 2022, after Terraform Labs withdrew 150 million TerraUSD from the Curve pool, Jane Street withdrew 85 million TerraUSD 10 minutes in advance to execute front-running trades. Previously, Todd Snyder had filed a $4 billion claim against Jump Trading for similar reasons. Jane Street has denied the allegations. (WSJ)

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