Jianjie lawsuit reignites "manipulation" controversy, Bitcoin, Ethereum, and Ripple prices plummet

CoinNetwork · 2026-02-24T14:32:40+00:00

Bitcoin price hovers around $62,900, with the total market capitalization of the crypto market falling to $2.18 trillion, facing pressure. The lawsuit against Jane Street has been refiled, alleging that they used insider information to sell UST during the TerraUSD collapse, resulting in a $40 billion market cap wipeout. Although Jane Street denies any misconduct, the lawsuit has sparked discussions about market volatility, but there is currently no evidence linking the fluctuations to coordinated actions.

CoinNetwork

2026-02-24 14:32:40

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As Bitcoin prices hover around $62,900, the total market capitalization of cryptocurrencies has fallen to approximately $2.18 trillion, and the market is under pressure again. A new court document has refiled charges against Jane Street, alleging that the firm used insider information to sell 85 million UST (TerraUSD) during the May 2022 Terra collapse, which reportedly caused a $40 billion market cap wipeout. Although Jane Street denies any wrongdoing, the lawsuit has reignited online discussions linking the firm to the “10 a.m. manipulation” pattern, where Bitcoin prices fluctuate sharply before and after U.S. market opens. The current market weakness aligns with extreme panic sentiment, but there is no evidence at this time that the recent volatility is related to any coordinated activity.

BTC6,53%

ETH11,58%

XRP7,34%

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