Jane Street Accused of Insider Trading

The court-appointed administrator of Terraform Labs sued Jane Street on Monday, alleging the trading firm used nonpublic information from Terraform insiders to front-run trades that accelerated the crypto platform's May 2022 collapse. Remember, this was the $40 billion collapse that roiled the markets and ultimately led to FTXs demise. According to the complaint, less than 10 minutes after Terraform withdrew 150 million TerraUSD from a liquidity pool, a wallet linked to Jane Street withdrew 85 million from the same pool… before the market knew of the move. Jane Street denies the allegations, calling the suit "baseless" and saying Terraform's crash resulted from management fraud, not its trading. Read more →

PayPal (PYPL) is fielding takeover interest from multiple suitors with its stock is down 46% over the past year. At least one large rival is examining the whole company while others eye specific assets according to reporting. Shares jumped 10% on the news, valuing the company at roughly $40.9 billion. New CEO Enrique Lores takes over March 1 as the payments pioneer struggles with outdated technology and competition. Read more →

Coinbase (COIN) opened stock and ETF trading to all U.S. users, running 24/5 with no commissions on the same platform as its crypto offerings. The move deepens competition with Robinhood (HOOD) and reflects crypto firms' broader push into traditional finance. By diversifying beyond digital assets, Coinbase aims to decouple its stock price from bitcoin volatility – a potential cushion as both COIN and HOOD have fallen 35% this year. Read more →

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