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Jane Street Seeks Dismissal of Terra Insider-Trading Suit Tied to $40B Collapse
Jane Street asked a New York court to dismiss a lawsuit accusing the firm of using insider information during Terra’s $40 billion collapse. The firm said its largest UST sale of 85 million tokens came 10 minutes after the allegedly non-public information was already visible to the market. Jane Street also said it started building short positions in UST and LUNA on May 8, before it allegedly received details of a proposed rescue package.