Jane Street has asked a U.S. court to dismiss a lawsuit filed by the bankruptcy estate of Terraform Labs, pushing back against allegations that the trading firm played a role in the dramatic 2022 collapse of the TerraUSD (UST) stablecoin and its sister token, Luna. In filings submitted to the Southern District of New York, the firm and several of its employees argued that the case is an attempt to redirect responsibility for one of the crypto markets largest failures. The lawsuit stems from the implosion of the Terra ecosystem, which wiped out approximately $40 billion in market value within… Read more
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The Chinese lab that shook Wall Street just dropped its biggest, most efficient model yet, hours after OpenAI launched GPT-5.5.
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