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Who is crashing this Bitcoin? Who is Dumping this market? Questions for an investigation into a suspect; Jane Street.
In the Luna crisis, an insider and manipulation lawsuit was filed against the company named Jane Street Capital, which is said to have been involved in the collapse of UST. The company received inside information that Luna was about to fail and withdrew $85 million in UST liquidity. It is claimed that this supported the peg’s dislocation. When UST entered a downward spiral, they sold off the entire market and shorted, earning billions of dollars.
In another “coincidence,” FTX founder and scammer Sam Bankman-Fried was placed here after graduating from university to learn the business, and later founded FTX and Alameda to manage operations.
Furthermore, it is widely discussed that during all Bitcoin sell-offs, including the one known as the October 10 crash, they manipulated the market with their billion-dollar Blackrock Bitcoin ETF, profiting billions from high-volume trades. Behind the “sales from the US” news, these guys are directly involved.
Since the lawsuit news broke, sell orders on BTC and ETH have mysteriously decreased…
Jane Street also continuously accumulates Strategy shares and Ibit, the Blackrock Bitcoin ETF, at the bottom while executing these sales. They also have investments in Coinbase (COIN) and Kraken exchanges. Some analysts suggest they might simply be hedging by buying certain assets, while on the other hand, they could be preparing for a rise in Bitcoin by collecting assets related to its potential increase, all while dumping the market. Especially with the US crypto law called the CLARITY Act expected to pass by April, they are likely to shake things up in these last months, then move forward with bullish strategies with their full portfolios.