> like Jane Street wanted in on the popular boy's book that they knew was going to tank

This is completely illogical. If they knew it was going to tank, they wouldn’t invest.

As conspiracy theories go, this one doesn’t even have a leg to stand on.

One theory (I don’t necessarily believe it): Jane Street was after the private part of SA’s portfolio (Anthropic), which is difficult to come by. Losing a few million dollars investing and getting in that network was worth it for them to try to groom Leopold to eventually sell them the private stake