Jane Street Resumes Bitcoin Activity Amid Ongoing Market Scrutiny
Infamous quant trading giant Jane Street, which has been alleged by many to be involved in Bitcoin’s “10 AM dump,” has resumed notable BTC-related activity. The firm remains under scrutiny from regulators, as well as from market participants.
According to a post by Lookonchain, in the past 2 hours, wallets associated with Jane Street have received a total of 25.36 BTC worth $15.08 miollion from two centralized exchanges – BitMEX and LMAX Digital.
The move suggests that the firm may have restarted trading flows after a period of relative quiet. The renewed attention comes at a rather sensitive time for the firm. As CryptoPotato reported earlier this year, Terraform Labs’ court-appointed administrator filed a lawsuit, accusing Jane Street of insider trading tied to the dramatic collapse of the entire Terra/Luna ecosystem back in May 2022.
Jane Street has strongly denied all the allegations, calling them baseless, and also argued that the lawsuit is simply an attempt to shift the blame for Terraform Labs’ own failure.
Meanwhile, multiple X analysts and market observers have alleged that the trading firm is responsible for regularly dumping Bitcoin’s price at 10 AM, calling it the “Jane Street 10 AM dump.”
Despite that controversy, other industry experts reject the notion. Matt Hougan, chief investment officer at Bitwise, recently dismissed claims that the firm orchestrated these declines, describing the pattern as a “classic crypto winter” rather than the result of a coordinated trading activity.
The post Jane Street Resumes Bitcoin Activity Amid Ongoing Market Scrutiny appeared first on CryptoPotato.
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