finance
Terraform Labs Sues Jane Street in Bankruptcy Case Over 2022 UST Collapse; Jane Street Moves to Dismiss
Jane Street has asked a federal court to dismiss a bankruptcy lawsuit from Terraform Labs. The suit alleges the trading firm contributed to the 2022 collapse of the UST stablecoin. Jane Street described the action as an effort to shift blame for Terraform's own fraud.
Apr 25, 1:22 PM·1m read1 source
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Jane Street filed a motion in federal court to dismiss a bankruptcy lawsuit brought by Terraform Labs, according to CoinDesk. The lawsuit claims Jane Street helped trigger the 2022 collapse of the UST stablecoin, CoinDesk reported. Jane Street argues the lawsuit seeks to shift blame and costs for Terraform's own alleged fraud, while Terraform claims Jane Street contributed to the UST collapse.
The UST collapse occurred in 2022.
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