The unsealed Terraform Labs bankruptcy filing centers on a Telegram group allegedly providing Jane Street with non-public details on UST liquidity moves, including a May 7, 2022 withdrawal of $150 million from Curve that preceded a large sell-off. Primary court documents emphasize claims of misappropriation and front-running that accelerated the stablecoin's depeg. Jane Street's motion to dismiss counters that any losses stemmed solely from Terraform's documented algorithmic flaws and management actions, not external trading. A separate SEC complaint against Terraform Labs details similar patterns of undisclosed reserve management and promotional misstatements that predated the collapse by months. These records together illustrate how quantitative firms' access to insider channels intersects with DeFi's structural opacity, where automated market makers amplify small liquidity shifts. Policy analyses from congressional hearings on digital asset markets note that traditional insider-trading frameworks struggle to map onto permissionless protocols, leaving room for both enforcement challenges and defenses centered on public code versus private communications. The filings omit granular trade attribution data, underscoring evidentiary hurdles in attributing price impact across decentralized venues.