Jane Street resumed its activity in Bitcoin and recorded considerable volumes after a period of relative calm. According to a report published by Lookonchain, wallets associated with the firm received 25.36 BTC valued at approximately $15.08 million, sourced from two centralized exchanges: BitMEX and LMAX Digital.
The operations suggest that the firm may have restarted its trading flows, though the timing is delicate given the regulatory and legal scenario it currently faces. The court-appointed judicial administrator in the Terraform Labs case filed a lawsuit against Jane Street, accusing it of insider trading linked to the collapse of the Terra/Luna ecosystem in May 2022. The company categorically rejected the accusations, describing them as unfounded and arguing that the lawsuit seeks to shift responsibility for Terraform Labs’ own mistakes.
In parallel, several analysts point to the firm as responsible for a recurring pattern of Bitcoin price drops at 10 AM, a phenomenon circulating under the name “Jane Street 10 AM dump.” However, Matt Hougan, Chief Investment Officer at Bitwise, dismissed that theory, describing the pattern as characteristic of a bear market hitting Bitcoin rather than the result of coordinated activity.
Source: https://x.com/lookonchain/status/2033504095508766983
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