Jane Street Becomes Target Of Social Media Hate Amid Manipulation Claims

Events Leading to the Lawsuit

On February 23, 2026, Terraform Labs’ bankruptcy administrator, Todd Snyder, sued Jane Street in Manhattan federal court. The lawsuit claims Jane Street used insider information from a former Terraform intern to pull $85 million out of UST just hours before Terraform’s massive withdrawal in May 2022. This allegedly helped trigger the Terra collapse, which wiped out over $40 billion.

Within two days, Jane Street became the target of rage on crypto Twitter and Reddit. People who lost money in 2022 are posting memes, threads, and conspiracy theories linking the firm to market crashes and profiting from big moves in BTC and ETFs. Jane Street calls the accusations “baseless,” but social media has already labeled it crypto’s top villain this week.

What Happened and When

X (Twitter) Reactions

Crypto Twitter exploded with raw anger and conspiracy-fueled memes within hours of the Feb 23 lawsuit filing, turning Jane Street into the week’s top villain. Retail users flooded timelines with posts calling them “vultures,” “10 AM wick masters,” and claiming “they crashed Terra to buy the dip.” Threads linked the firm to BlackRock ETF flows and past BTC crashes. ZeroHedge’s coverage received thousands of reposts.

Indonesian crypto accounts explained the story for local audiences. Big accounts like @Crypto_Crib_ and @FirstSquawk amplified the drama with screenshots of the claims. Even as Jane Street called the suit “baseless,” the sentiment was overwhelmingly “finally they’re exposed,” creating a perfect storm of 2022 trauma and fresh 2026 FUD.

What Readers Should Watch Next

• Social media: Track volume and sentiment on Jane Street over 24–48 hours to see if the hate wave peaks or fades.
• Jane Street response: Any official statement or legal filing could quickly change the narrative.
• LUNA/USTC markets: Watch price and volume over the next 72 hours for short-term FUD dips and rebounds.
• New developments: Leaks, court documents, or posts by big accounts could reignite the social media fire.