Block Journal
No Result
View All Result
  • Login
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
Magazine
Newsletter
  • Trending Now
  • Bitcoin
  • Altcoin
  • Ethereum
  • Analysis
  • Blockchain
  • Metaverse
  • NFT
  • DeFi
  • Web3
  • GameFi
  • ICO
  • Legal
  • Security
Block Journal
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
No Result
View All Result
Block Journal
No Result
View All Result
  • News
  • Crypto
  • Markets
  • Investing
  • Videos
  • Charts
Home Crypto Legal

Telegram chats by Jane Street and Jump Crypto staff probed in Terra case

News Room by News Room
March 14, 2023
in Legal
Reading Time: 2 mins read
0 0
A A
0

Manhattan federal prosecutors have allegedly slid into the DMs of employees at Jane Street and Jump Trading to determine if market manipulation occurred in the collapse of Terra’s stablecoin, Bloomberg reports.

According to an unnamed source familiar with the matter, Telegram messages by Jane Street and Jump are being combed in relation to a potential bailout of TerraUSD in May, which never took place. Instead, the entire Terra ecosystem collapsed.

The two trading firms hold significant sway in the markets. US authorities believe their ties to Terra’s collapse run deep. Several Jane Street traders went on to work in top roles at crypto exchange FTX and trading firm Alameda Research before they collapsed in November — including Sam Bankman-Fried himself.

There’s no evidence that Jane Street had any involvement in the misdeeds former employees committed at FTX. However, it’s likely that Jane Street did have a heavy hand in the collapse of Terra’s stablecoin, TerraUSD.

Researcher ties Jane Street to notorious ‘Wallet A’ that helped depeg UST

Read more: A look at Jump Crypto and its shady past

At the end of February, researcher Igor Igamberdiev identified three wallet addresses likely belonging to Jane Street, suggesting that the trading firm owns the notorious ‘Wallet A’ that contributed significantly to the depegging of TerraUSD in May 2022.

Like Jane Street, Jump’s crypto arm held deep ties to Sam Bankman-Fried and his blockchain of choice, Solana. A complaint by the Securities and Exchange Commission (SEC) revealed an unnamed trading firm — supposedly Jump Crypto — bailed out TerraUSD to restore its peg in 2021, getting a sweet discount on LUNA tokens in return. In May, Jump Crypto reportedly made $1.3 billion from the collapse of Terra’s ecosystem.

  • Terra’s founder Do Kwon is a wanted fugitive who was last spotted in Serbia.
  • Authorities say Kwon’s cryptocurrencies luna and terra were unregistered securities.
  • Well-connected insiders like Jump Crypto benefited while regular investors lost billions.

Read the full article here

ShareTweetSharePinShareShareSend

Related News

Top Lawyer Shares New Doc Proving XRP Isn’t a Security “Outside Its Initial Contract”
Legal

Top Lawyer Shares New Doc Proving XRP Isn’t a Security “Outside Its Initial Contract”

June 5, 2023
Hong Kong Is Promoting New Regulatory Framework For Stablecoins
Legal

Hong Kong Is Promoting New Regulatory Framework For Stablecoins

June 5, 2023
Twitter Co-founder Endorses Pro-Crypto U.S. Presidential Candidate
Legal

Twitter Co-founder Endorses Pro-Crypto U.S. Presidential Candidate

June 5, 2023
UK Lawmakers Call for a Dedicated Government Role to Oversee Crypto Regulation
Legal

UK Lawmakers Call for a Dedicated Government Role to Oversee Crypto Regulation

June 5, 2023
Ripple v. SEC case update as of June 5, 2023
Legal

Ripple v. SEC case update as of June 5, 2023

June 5, 2023
FSMA Warns against 38 Unlicensed CFDs and Crypto Platforms
Legal

FSMA Warns against 38 Unlicensed CFDs and Crypto Platforms

June 5, 2023
The Monetary Authority of Singapore Demands More Disclosure From Crypto Firms
Legal

The Monetary Authority of Singapore Demands More Disclosure From Crypto Firms

June 4, 2023
Crypto Community Reacts: Twitter Backlash to Senator Warren’s New Stance
Legal

Crypto Community Reacts: Twitter Backlash to Senator Warren’s New Stance

June 4, 2023
US Senators Express Concerns over El Salvador’s Bitcoin Adoption – What’s Going On?
Legal

US Senators Express Concerns over El Salvador’s Bitcoin Adoption – What’s Going On?

June 4, 2023

Discussion about this post

Latest News

Silver Price Analysis: XAG/USD bulls retain control near $25.00 mark, just below YTD top

Silver Price Analysis: XAG/USD cuts some of its losses back above the 100-DMA

June 5, 2023
Oil nears 5-week low amid fears of rising rates, worsening growth

OPEC cuts: Brent seen at $95 despite cautious market reaction – UBS

June 5, 2023
United States, EU agree to start talks on critical minerals amid trade tensions

Global shares, US yields rise after strong jobs data, debt-ceiling passage

June 5, 2023
Uniswap leads way as largest cryptocurrencies drop

Large cryptocurrencies drop on Solana, Ripple declines

June 5, 2023
U.S. stocks open modestly lower as investors await Powell testimony

U.S. stocks open flat after last week’s rally puts S&P 500 on verge of bear-market exit

June 5, 2023
ADVERTISEMENT

Popular

  • Dow futures rise on debt deal optimism

    Dow futures rise on debt deal optimism

    0 shares
    Share 0 Tweet 0
  • Terra Classic Dev L1TF Unveils Edward Kim AI Chain “Block Entropy”, LUNC Price To $1

    0 shares
    Share 0 Tweet 0
  • Dollar may quickly recover yesterday’s losses on a strong labor market report – Commerzbank

    0 shares
    Share 0 Tweet 0
  • RBA likely to deliver another 25bps next week – Well Fargo

    0 shares
    Share 0 Tweet 0
  • Peak rates at 3.75% for the ECB and 5.25% for the BoE – Nomura

    0 shares
    Share 0 Tweet 0
Block Journal

Block Journal is the world’s leading source in blockchain news and updates. Follow us to stay up-to-date with all you need to know in web3.

LEARN MORE »

Recent Posts

  • Silver Price Analysis: XAG/USD cuts some of its losses back above the 100-DMA
  • OPEC cuts: Brent seen at $95 despite cautious market reaction – UBS
  • Global shares, US yields rise after strong jobs data, debt-ceiling passage

Trending Topics

Altcoin Analysis Bitcoin Blockchain Commodities Crypto DeFi Ethereum Forex Futures GameFi ICO Investing Legal Markets Metaverse News NFT Security Stocks Uncategorized Videos Web3

Get Informed

The most important crypto and finance news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • About
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

Copyright © 2023 Block Journal - Created by Sawah Solutions.

No Result
View All Result
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine

Copyright © 2023 Block Journal - Created by Sawah Solutions.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.