Galaxy Research Refutes Bitcoin Crash Blame on Jane Street

2026-03-01 17:15

Galaxy Research's Alex Thorn has dismissed claims that Bitcoin's price crash was linked to the trading activities of Jane Street. Speaking on the "What Bitcoin Did" podcast, Thorn labeled the allegations as "Twitter cope" and a "manufactured" controversy. He argued that Jane Street, a quantitative trading firm, likely engages in neutral trading strategies such as basis trades or arbitrage, which do not incentivize price suppression. The controversy arose after accusations of insider trading against Jane Street, but Thorn and others have rejected these claims as unfounded.

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