[Jane Street Faces New Developments in Terra Insider Trading Lawsuit, Previously Fined Heavily in India] Odaily Planet Daily News: Quantitative trading firm Jane Street has recently been sued in the U.S. District Court for the Southern District of New York over events related to the collapse of the Terra ecosystem. The firm is accused of using non-public information in May 2022 to avoid potential losses exceeding $200 million before the Terra/Luna crash. The plaintiff alleges that Jane Street obtained critical non-public information through communication with Terraform Labs' engineering and business teams and conducted large-scale transactions before the migration of UST liquidity. Jane Street denies the allegations, calling the lawsuit "baseless accusations." The lawsuit reveals that on May 7, 2022, after Terraform withdrew 150 million UST from Curve3pool, a related address quickly removed 85 million UST from the same pool, causing a liquidity imbalance. The Terra ecosystem subsequently collapsed within a week, wiping out approximately $40 billion in market value. Reports also indicate that Jane Street was previously issued a 105-page enforcement document by the Securities and Exchange Board of India, accusing the firm of leveraging structural advantages to gain abnormal profits in the local market. The current case involves 13 charges, including insider trading, securities fraud, and violations of the Commodity Exchange Act, with some details still under seal. (Forbes)