Look I’m happy to play “pin the tail on the finance bros”, and I hate crypto with a passion, but I don’t see evidence here.

The company in charge of a crypto thing made a sudden (and I assume unexpected) withdraw of $150 million.

Jane Street, who worked with them, dumped $80 million within 10 minutes.

Are we supposed to think Jane Street wasn’t supposed to be monitoring what was going on? If I was working with a bunch of crypto people who suddenly took out a ton of money without warning me, I can absolutely see wanting to pull my money before everything collapses. Crypto is volatile.

As other people pointed out, this is 10 MINUTES. You don’t need secret information to notice something happening that fast. You need dial-up. That would be plenty fast enough.

Sure if you can actually produce records where someone from TerraLabs said “we are running away, pull out quick“ fine. But even then… if they waited most of 10 minutes did they even need that information? It’s not like rug pulls are an unknown thing in crypto.

I get the lawyer wants to help his clients but unless he gets some discovery and finds something pretty damning I’m not sure there’s anything here. I was expecting to see one of those allegations where they did it within like two seconds. I can see two seconds being collusion.