Jane Street seeks dismissal of Terraform claims

Trading firm Jane Street has asked a federal court to dismiss a lawsuit filed by the bankruptcy estate of Terraform Labs. Jane Street argues that the lawsuit, which alleges the firm contributed to the 2022 collapse of the TerraUSD stablecoin and Luna token, is an attempt to shift blame for Terraform's own fraud. The firm contends that the core issues of Terraform's collapse have already been adjudicated through criminal and civil cases against founder Do Kwon. Jane Street denies any involvement in the $40 billion ecosystem failure.