Luna Coin surges 13% day-on-day… Investor sentiment lifted by news of a Jane Street probe
Summary
- It reported that Terra Classic jumped 13.53% from the previous day to $0.00004168.
- It said the rally is being driven by a lawsuit spotlighting allegations against Jane Street, including insider trading, fraud, and market manipulation.
- While the trustee alleged Jane Street’s large-scale UST selling and damage to market equilibrium, Jane Street denied the claims, calling them an “attempt to obtain money.”
Forecast Trend Report by Period
Terra Classic (LUNC) is surging intraday.
As of 6:40 p.m. KST on the 27th, Terra Classic was up 13.53% from the previous day at $0.00004168, according to CoinMarketCap.
Terra Classic is the Luna coin at the center of the 2022 “Terra–Luna crash.”
Behind today’s spike are allegations of insider trading and front-running involving Jane Street. The bankruptcy trustee for Terraform Labs recently filed claims against Jane Street in the U.S. District Court for the Southern District of New York, alleging insider trading, fraud, and market manipulation, among other charges. The complaint alleges that in 2022, Jane Street triggered depegging by selling large amounts of UST shortly after Terra’s nonpublic liquidity withdrawal.
The trustee claims Jane Street obtained material nonpublic information (MNPI) through internal Terra connections and then executed large-scale swap transactions that disrupted market equilibrium. Jane Street, however, rejected the allegations in full, calling the lawsuit an “attempt to obtain money.”
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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