Bridger PenningtonFund Launch & Investment Expert

Jane Street accused of market manipulation in crypto, 10am BTC price dumps have stopped (for now)

26 Feb 2026 · 2 min

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1:34

In this commentary, the speaker outlines a recent lawsuit filed by Terraform against Jane Street, alleging that the firm engaged in systematic market manipulation of cryptocurrency, specifically daily Bitcoin sell‑offs at 10:00 AM that persisted for a year. The lawsuit claims Jane Street avoided over $200 million of exposure by unwinding positions, and that this activity contributed to the collapse of Terraform’s ecosystem after the Terra de‑pegging incident, which also led to Do Kwon’s 15‑year prison sentence. The speaker notes that India’s securities regulator has banned Jane Street from its markets. Following the public accusation, crypto prices rallied sharply, prompting speculation about whether other large institutions (e.g., JP Morgan, Vanguard) might also be involved in hidden manipulation. The commentary ends with a call to monitor the situation and see if the rally endures.

Chapters

If you haven't followed this story, this is pretty crazy. Yesterday, Jane Street, one of the largest institutions on earth, got sued for market manipulation in crypto. And today crypto took off right at 10:00 AM. Now this article broke this down very well that over the last year, some firm has been dumping Bitcoin every day at 10:00 AM. We've seen this repeatedly until Jane Street got sued yesterday for market manipulation and bam, crypto took off. This lawsuit comes from Terraform. Who got crushed back in 2022 during the last crypto cycle. They allege in this lawsuit, you can read it here, they destroyed Terraform by first depegging the token, destroying the ecosystem, and then pretending it would rescue Terra while effectively it was soaking up what little value remained. It was the fact that they were lying to them while selling here. This is why Do Kwon is serving a 15-year prison sentence. People lost their lives over this thing. I mean, it was crazy. According to the lawsuit as well, they avoided over $200 million of potential exposure by unwinding its position. This is one of the reasons India's securities market banned Jane Street from their markets. You know, over the last few months, we've been wondering what's been happening in crypto. Nothing. You know, there was no FTX blowup. There wasn't COVID. Like nothing seemingly has happened yet. Prices have been nuked and all roads pointed to market manipulation. Maybe it was JP Morgan. Maybe it was Vanguard. It is appearing that it might be Jane Street who is doing this. And as soon as this was called out, markets rallied quite a bit. We'll see if this maintains. We'll see what this lawsuit does, but pretty interesting stuff. Follow along to stay in the loop.