Jane Street resumes Bitcoin trading amid scrutiny over alleged insider activity

Jane Street, the quantitative trading powerhouse and authorized participant in spot Bitcoin ETFs, has resumed active crypto trading.

According to data tracked by Lookonchain, wallets linked to the firm saw an inflow of 205 Bitcoin, worth about $15 million, from institutional exchanges BitMEX and LMAX Digital on Monday.

Jane Street, recently accused of insider trading during the $LUNA/Terra crash and dumping $BTC at 10 AM, is actively trading again.

In the past 2 hours, wallets linked to #JaneStreet received 205.36 $BTC($15.08M) from BitMEX and LMAX Digital.https://t.co/6Jt6RTJRed pic.twitter.com/JJ4PKyCVA4

— Lookonchain (@lookonchain) March 16, 2026

Jane Street’s fresh on-chain activity comes as the firm faces accusations over its role in the May 2022 collapse of TerraUSD (UST) and $LUNA that wiped out about $40 billion in value.

Todd Snyder, Terraform Labs’ bankruptcy plan administrator, is suing the Wall Street giant for alleged front-running using non-public insider information. Snyder also filed a $4 billion claim against Jump Trading.

Alongside the legal action, a widely circulated theory on X accused Jane Street of systematically influencing Bitcoin price movements.

Crypto traders pointed to a pattern in which Bitcoin frequently dropped around 10:00 a.m. ET, shortly after the US market opened, for months leading into early 2026.

Jane Street is suspected of having leveraged its role as an authorized participant for BlackRock’s iShares Bitcoin Trust ETF to sell Bitcoin, trigger liquidations, and then accumulate ETF shares at lower prices.

And there it is: Jane Street was behind the 2022 crypto winter, destroying Terraform by first depegging the token and destroying the ecosystem, then pretending it would rescue Terra, while effectively it was soaking up what little value remained. pic.twitter.com/Wo9HnBHAoP

— zerohedge (@zerohedge) February 24, 2026

Observers later noted that the sell-off pattern appeared to stop in late February 2026, about a few days after the Terraform lawsuit became public.

However, several analysts and market veterans dismissed the allegations that Jane Street manipulated Bitcoin prices.

Rob Hadick, partner at Dragonfly Capital, said the claims show a fundamental misunderstanding of derivatives markets and the role of ETF authorized participants.

A person close to Jane Street also told Fortune in late February that the claims were an “absolutely ridiculous” conspiracy theory.