
The market maker Jane Street controls the price of Bitcoin. • They triggered the collapse of Terra $LUNA in 2022, with $85M in UST collateral, causing a depeg and taking short positions to profit massively. • Several key figures involved in the FTX and Alameda Research collapse (including founder Sam Bankman-Fried) previously worked at Jane Street. • There are serious (unverified) suspicions that Jane Street has caused the recent Bitcoin bear market, which began in October 2025, through market manipulation via periodic large-scale sales of the asset.

