Jane Street asks US court to dismiss Terraform Labs lawsuit

Market maker Jane Street has asked a U.S. court to dismiss a lawsuit from Terraform Labs regarding allegations of insider trading during the 2022 collapse of the Terra-LUNA ecosystem. According to Cointelegraph, the motion seeks a dismissal with prejudice, which would prevent Terraform Labs from refiling the same claims if granted. In its filing, Jane Street argued that it traded Terra-related tokens based on market signals, not inside information. Jane Street has previously faced allegations that it drove down the price of BTC through algorithmic selling at 10 a.m. U.S. time each day.