Selasa, 24 Februari 2026

Terraform administrator sues Jane Street over insider trading claims


"Purification" phase: sellers exit now, institutions could hold for decades	͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏	View in browser

February 24, 2026

Your Daily Digest of the 🔥Hottest News in Crypto

Today's top stories

📉 Lawsuit claims Jane Street trades amplified TerraUSD's 2022 depeg and collapse
🏦 Investor says BTC became a high-beta tech proxy as ETFs tie it closer to institutional flows
🧠 NYDIG says crypto's "investable universe" is shrinking to a few winners
📰 Keep reading for all of today's biggest headlines

Terraform administrator accuses Jane Street of insider trading in collapse lawsuit

Terraform Labs bankruptcy administrator Todd Snyder has sued trading firm Jane Street and several employees in Manhattan federal court, alleging they used improper back-channel communications with Terraform insiders to obtain material non-public information and trade Terra-linked tokens ahead of the May 2022 collapse. The complaint claims Jane Street sold a massive tranche of TerraUSD shortly after Terraform quietly withdrew liquidity from a key pool, helping trigger a sell-off that contributed to the ecosystem's $40 billion meltdown. Jane Street denied wrongdoing, calling the lawsuit "baseless" and arguing Terra's losses stemmed from fraud by Terraform's own management, as Snyder seeks damages and disgorgement.

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Bitcoin ETF sell-off is 'purification' of bull case, investor says

EMJ Capital's Eric Jackson argues that this year's sustained Bitcoin ETF outflows are a "purification" that could ultimately strengthen Bitcoin's long-term bull case by replacing short-term sellers with more durable institutional holders. He says Bitcoin has effectively become a high-beta tech trade, moving closely with BlackRock's tech-software ETF (IGV), and that the current weakness won't reverse until IGV selling pressure eases and stablecoin supply begins expanding again. Looking ahead, Jackson expects the next wave of buyers to include sovereign wealth funds, corporate treasuries, and pension capital that hold for decades rather than rebalance quarterly.

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'Investable universe' of crypto is narrowing: NYDIG

NYDIG research lead Greg Cipolaro argues that crypto's "investable universe" is shrinking as the industry matures, concentrating on a handful of use cases that extend traditional finance onto blockchain rails—namely Bitcoin, stablecoins, tokenized assets, select DeFi infrastructure, and a few general-purpose chains like Ethereum. He says many hyped non-financial applications (gaming, social, metaverse) have struggled because centralized systems are typically faster and cheaper, leaving blockchain's core strengths best suited to money and financial utilities. While this consolidation could bring clearer long-term winners and strengthen core assets, it may also reduce speculative activity and suggest crypto's overall market opportunity is smaller than earlier "web3" narratives implied.

How many people actually pay with Bitcoin? Real use cases revealed

Measuring real-world Bitcoin payments is harder than it looks because many "crypto payments" run through intermediaries, cards, or instant conversions to local currency—and stablecoins now make up a large share of crypto transaction flow. Surveys suggest a sizable minority of crypto holders have used crypto to buy goods or services at least once (for example, 39% in one 2025 survey), but they rarely separate Bitcoin from other assets or show how often people pay this way.

Case studies and processor data show Bitcoin is used more in specific niches than in everyday retail. El Salvador's legal-tender experiment did not translate into widespread daily usage due to volatility, usability issues, and the convenience of existing payment rails, and the country later loosened acceptance requirements. Where Bitcoin does show up is in online and higher-value categories (travel, electronics, digital services), cross-border business payments, donations, gift-card/voucher spending, and small "circular economies," with the Lightning Network seen as essential for low-fee, instant payments—though it also makes tracking usage harder.