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From Terra's Collapse to the "10 AM Strike": How Did Jane Street Play the Markets Across Two Continents?

The article details serious allegations against Jane Street Group, a major quantitative trading firm, for market manipulation across different continents. It is accused of using insider information to profit from the Terra Luna collapse in May 2022, allegedly triggering its $40 billion crash. Separately, Indian regulators charged Jane Street with a "pump and dump" scheme in derivatives markets, resulting in massive fines and a trading ban. The piece also connects Jane Street to a pattern in Bitcoin trading called the "10 AM hit," where consistent sell pressure occurred at U.S. market open, suppressing BTC prices for months. This pattern abruptly stopped after the Terra lawsuit became public, coinciding with a Bitcoin price surge. As an authorized participant for BlackRock’s Bitcoin ETF (IBIT), Jane Street held significant influence over BTC flows. The article suggests their trading activity—selling BTC while increasing exposure to Bitcoin-proxy stocks—may have manipulated markets. The case highlights structural vulnerabilities in ETF systems that privilege certain players, echoing past manipulation in traditional markets like gold. Bitcoin’s recent rebound may signal reduced manipulative pressure, underscoring the need for trustless systems.

Odaily星球日报02/26 03:44