ECP NetHappenings How Jane Street Manipulates the Market

How Jane Street
Manipulates the Market

ESSAY

Bull Theory
@BullTheoryio
https://x.com/BullTheoryio/status/2047994545540079857

🚨 A FIRM WITH 3,500 EMPLOYEES MADE $39.6 BILLION LAST YEAR AND MOST OF IT CAME FROM MARKETS THEY ARE ALSO ACCUSED OF MANIPULATING : JANE STREET

And they just had their best year ever while facing a market manipulation fine in India and an insider trading lawsuit in the US.

JPMorgan has 316,000 employees and made $35.8 billion in trading revenue in 2025. Jane Street has 3,500 employees and made $39.6 billion. That is 90 times fewer employees making more money than the largest bank in America. Every single Jane Street employee generated $11 million in revenue last year. The average American makes $60,000 a year.

No legitimate trading firm in history has ever done this.

Now understand how they make this money.

Jane Street does not manage money for clients. They trade their own money across every market on earth and they sit on both sides of almost every trade you make. When you buy an ETF, there is a very high chance Jane Street is selling it to you. When you sell, they are buying. In 2024 alone Jane Street accounted for 41% of all bond ETF trading volume globally. They are not a participant in the market. In many markets they ARE the market.

And as a market maker they see your order before it hits the market. Jane Street paid Robinhood $61.3 million for stock order flow and $15.2 million for derivatives order flow, meaning they paid for the right to see where retail money is going before it moves prices. They know what you are buying before you buy it. They know what you are selling before you sell it. And their entire $662 billion portfolio is 87% options, instruments that make money when prices move violently in any direction.

Now look at what happened in the same year they made $39.6 billion.

In India, SEBI found that Jane Street used one entity to buy massive amounts of bank stocks at market open to push prices up while a separate entity simultaneously held short options positions that would profit when the index fell. Near expiry they dumped the stocks, the index crashed, and the options printed money. They did this across 18 documented expiry days. A whistleblower said it happened on 90 to 95% of ALL trading days. SEBI impounded $567 million. Jane Street deposited it into escrow and kept trading the next day.

In crypto, the Terraform bankruptcy administrator filed an 83-page federal lawsuit in Manhattan alleging Jane Street used inside information to front-run the $40 billion LUNA collapse. When Terraform quietly pulled $150 million from a liquidity pool with zero public notice, a wallet linked to Jane Street pulled $85 million from the same pool within 10 minutes. A Jane Street employee had interned at Terraform and ran a private group chat with insiders called “Bryce’s Secret” as a back channel for information that was never made public. Jane Street allegedly avoided $200 million in losses while retail investors lost everything.

In silver, Jane Street built a $1.3 billion position in SLV, a 500x increase in a single quarter while silver was rallying to an all time high of $121. They disclosed this position only after silver crashed 50%. Nobody could see what their options book looked like on the other side of that trade. A 13F filing only shows long equity positions. The short book, the options, the full derivatives exposure, all of it invisible to regulators and the public until it is too late.

The daily 10 AM Bitcoin price slam that traders documented happening every single day, stopped only after Jane Street got publicly linked to the Terraform insider trading lawsuit.

Jane Street’s $39.6 billion makes it the first non-bank institution in history to out-earn every Wall Street bank in trading revenue.

The one question nobody is asking: how much of that $39.6 billion came from trades where they already knew the outcome before everyone else did?

ECP NetHappenings Jane Street The Four Firms Controlling & Rigging Modern Markets

❤️️ Sign Up ©2025 NetHappenings News Email List
https://cyberplayground.org
©2025 Follow@CyberPlayGround
©1998-©2025 *Educational CyberPlayGround®
©2025 https://k12playground.com
©2025 https://RichAsHell.com
©1993 – ©2025 https://edu-cyberpg.com
No Justice No Peace
When Corrupt Politicians Start Going To Jail, Then We Can Start Trusting The Government Again.

LINKGOOD TO KNOW
Linus Torvalds created Linux at 21 without Claude or any other AI
.

– He didn’t have a co-founder.
– No VC funding. No office.
– No team.
– Just a personal project

He posted to a mailing list: “I’m doing a free OS.”
33 years later, it runs 97% of the world’s servers, all smartphones, and the International Space Station.
The most important software in history started as someone’s side project.
Absolute legend.

LINKJane Street + JP Morgan, BlackRock, Citadel Securities

2/26/26 @AltCryptoGems https://x.com/AltCryptoGems
JANE STREET IS THE MOST PROTECTED FIRM IN CRYPTO AND NOBODY HAS THE GUTS TO SAY IT
Everyone keeps treating Jane Street like some mystery to uncover. It’s not a mystery. It’s right there in front of you.
A firm with no CEO making $6.9 billion in profit per quarter.
More than most banks pull in a year. And somehow their fingerprints are on every single major crypto disaster and they keep walking away clean.
Let’s talk about it.
SBF. Caroline Ellison. Brett Harrison. All Jane Street alumni.
One built FTX. One ran Alameda. One ran FTX US.

The biggest fraud in crypto history. $8 billion stolen. 25 years in prison.
Three people from the same firm built the whole thing from scratch.
But sure, Jane Street had nothing to do with the culture that produced them.
Total coincidence that three people from one trading floor all ended up running the same fraud operation.
Right.
Now Terra is suing them claiming they front-ran the LUNA collapse.
Alleging Jane Street understood exactly how the UST depeg would play out and positioned themselves to profit while $60 billion got wiped in 72 hours.
Alleged? Yes. But explain this.
Bitcoin was getting dumped at 10AM EST every single day for 6 months. Every day.
Good news bad news didn’t matter. Same time same pattern.
Two days after the Jane Street lawsuit gets filed that pattern just vanishes. BTC rips from $62.5K to $69K.
You can say correlation isn’t causation. Sure. But you can’t say that with a straight face and not at least ask the question.
India didn’t just ask questions. India acted.
SEBI accused Jane Street of using multiple entities to manipulate the Bank Nifty index.
One entity pumps stocks at open. Another holds derivatives that profit from the dump. First one sells. Second one collects.
Jane Street said it was normal arbitrage. SEBI banned them anyway.
And Jane Street’s response? They put $560 million into escrow just to ask for permission to come back.

Half a billion dollars. To request the right to trade. That’s not what innocent firms do. That’s what firms do when a market is too profitable to lose access to.

They also pay Robinhood over $60 million a month for order flow. Which means they see your trades before they go through. Every single one. Across one of the biggest retail platforms in the world.
And everyone’s fine with this because it’s “legal.”
Legal doesn’t mean fair. Legal just means nobody with enough power has decided to stop it yet.
The wildest part?
Co-founder Robert Granieri got connected to allegations about funding a coup in South Sudan. No charges.
Obviously.
Because people at this level don’t get charges.
They get “matters resolved.”
Here’s what bothers me.
The crypto space will spend weeks dragging some influencer for a bad call but won’t say a word about a firm that trained the FTX team, is being sued for front-running the biggest collapse in crypto history, got banned from an entire country’s market, and literally pays to see your trades before you make them.
We pick the fights that are safe and ignore the ones that actually matter.
Some of this is proven. Some is alleged. Some is speculation.
But if even half of it holds up, the conversation we should be having isn’t about whether Jane Street broke any rules.
It’s about why the rules were written to let firms like this operate this way in the first place.
Crypto was supposed to be the exit. Instead we rebuilt the same casino and let the same house run it.
Stop pretending the game is fair. It never was.

EXPOSED: The Four Firms Controlling & Rigging Modern Markets
JP Morgan, BlackRock, Citadel Securities, Jane Street

1. BlackRock – The $14 Trillion Shadow Owner Weaponizing Common Ownership
BlackRock now manages a record $14 trillion in assets (Q4 2025 earnings, Jan 2026). It is the largest shareholder in the majority of S&P 500 companies through passive index funds.

Together with Vanguard and State Street, it controls stakes that have triggered multiple antitrust lawsuits. In 2024–2025, 12 Republican state attorneys general sued BlackRock (and the others) for allegedly conspiring via common ownership to suppress U.S. coal production by 18–19%, driving up energy prices 21–25% while pushing ESG “Net Zero” agendas. A federal judge in Texas allowed the case to proceed in August 2025. The FTC and DOJ filed a statement of interest backing the states, rejecting BlackRock’s attempts to dismiss.

2. JP Morgan – JP Morgan has repeatedly been caught manipulating markets for profit:

– 2020: Record $920 million CFTC settlement (largest ever for spoofing at the time). Traders placed hundreds of thousands of fake orders in precious metals and Treasury futures (2008–2016) to move prices, then canceled them. JP Morgan admitted wrongdoing and paid restitution + disgorgement.
– 2024: Another $200 million CFTC fine for failing to surveil billions of client orders over eight years, allowing potential spoofing and high frequency manipulation to go unchecked.

This is the same bank BlackRock lists as a core Authorized Participant for its trillion-dollar ETFs.

3. Citadel Securities – The Retail Front Runner That Owns Your Order Flow
Citadel Securities dominates U.S. retail trading: it has handled up to 40% of all retail equity volume and paid out hundreds of millions in Payment for Order Flow (PFOF) to brokers like Robinhood. In just nine months of 2024 it paid $943 million for retail order flow.

During the 2021 GameStop event, Citadel was the largest PFOF provider to platforms that suddenly restricted buying conveniently protecting its positions. It continues to profit from seeing your Robinhood orders before they hit the market. In 2026, Citadel Securities is still listed as an Authorized Participant for BlackRock’s spot Bitcoin ETF, creating and redeeming shares in the very products it helps price.

4. Jane Street – The “Basic Arbitrage” Manipulator Banned & Sued on Two Continents
Jane Street’s mask slipped in 2025–2026:

– July 2025: India’s SEBI banned Jane Street from the entire securities market, accusing it of a “sinister scheme” to manipulate the Bank Nifty index over 18 expiry days (2023–2025). The firm allegedly bought underlying stocks/futures early to artificially prop up the index, then profited from massive options positions. SEBI froze ~$566 million in alleged unlawful gains. Jane Street deposited the money but is fighting the ban, claiming “basic index arbitrage.”
– February 2026: Terraform Labs’ bankruptcy administrator sued Jane Street (plus co-founder and employees) in Manhattan federal court. The suit accuses the firm of using insider non-public information to front-run trades during the 2022 TerraUSD collapse including a wallet that pulled 85 million UST from Curve within 10 minutes of Terraform’s secret withdrawal. This allegedly accelerated the $40 billion wipeout.

Jane Street is also a top Authorized Participant for BlackRock’s ETFs.

@sungleeiq March 12, 2026
Nobody is telling you how FUCKED your retirement savings actually are right now.
Everyone is watching the war. The missiles. The oil price.
Nobody is talking about what’s happening to YOUR money. Right now. Today.
A $33,000,000,000 private credit fund just told investors: “You can’t have your money back.”
Cliffwater capped redemptions at 7%. Investors wanted 14%. They got HALF.

Morgan Stanley — restricting redemptions.
JPMorgan — restricting private credit lending.

You know what private credit is? It’s where YOUR pension fund parks billions. YOUR 401k. YOUR retirement.

→ BlackRock manages $10 TRILLION. A massive chunk is in private credit.
→ Your state pension? Exposed to private credit.
→ Your company’s retirement plan? Exposed to private credit.
→ That “safe” target-date fund you picked? It holds private credit.

Here’s what nobody is explaining to you:

Private credit is NOT like stocks. You can’t just sell and walk away. There is no “sell” button. The fund decides IF and WHEN you get your money back.

And right now they’re saying: NO.

2008 started EXACTLY like this.

→ Step 1: Private funds quietly restrict withdrawals ← WE ARE HERE
→ Step 2: Investors panic, everyone rushes for the exit
→ Step 3: Funds forced to dump assets at fire-sale prices
→ Step 4: Asset values collapse
→ Step 5: Banks tighten lending, credit freezes
→ Step 6: Stock market crashes 40-60%
→ Step 7: Millions lose their retirement

The S&P dropped 57% last time this happened. People who were 2 years from retirement had to work another decade.

And this time? It’s happening DURING a war. With oil at $100. With inflation coming back. With the Fed trapped.

Nobody is warning you because the people who should be warning you are the ones locking the exits.

Bookmark this. https://x.com/sungleeiq/status/2031940368988598706

 

LINKHEALTH

Decline in Independent Activity as a Cause of Decline in Children’s Mental Well-being: Summary of the Evidence – The Journal of Pediatrics
https://www.jpeds.com/article/S0022-3476(23)00111-7/abstract

LINKEpstein

“They must think that Americans are really, really stupid.”
Bryant on the Epstein “pimps” named by the New York Times.
https://archive.ph/vvQDS

“You charge them…they’d roll over on the perps in a heartbeat.”
https://x.com/RudyHavenstein/status/1945909564844474585

Christine Maxwell, Ghislaine’s sister, co-founded Chiliad – a data mining company with two people – Paul McOwen and Alan Wade. Wade was a top CIA official who also worked with PALANTIR.
CHILIAD became PALANTIR. My original thread here

Ryan Goodman @rgoodlaw
I hope this is one of the most consequential pieces I will have ever written.
Epstein and His Co-Conspirators’ New York Crimes: What NY officials can now do
https://threadreaderapp.com/thread/2032070197872369730.html

@OhRick4
Is anyone going to question Epsteins lottery win in New Mexico ?
It may sound like a random coincidence, however, the New Mexico Governor at the time was Democrat Bill Richardson who IS named in the Epstein Files and who remained in contact until the year Epstein was arrested.

In 2008 (under Bush), Jeffrey Epstein’s planes were listed as “Signatory VWP (Visa Waiver Program) Carries”. Meaning, through a legal agreement with the U.S. government, he was allowed to transport citizens from designated countries without them having to obtain a visa for up to 90 days.  2001-2009.state.gov/documents/orga

Jeffery Epstein had Melania first then she was passed on “sold” to Trump
https://x.com/ImBreckWorsham/status/2032106396997591503/photo/1

Ketamine, Prostitution and Money: Here Are The Details of a Secret DEA Probe of Jeffrey Epstein
https://threadreaderapp.com/thread/2029923761710146010.html
https://www.bloomberg.com/news/features/2026-03-06/epstein-investigated-in-dea-probe-for-ketamine-money-laundering

@JamesTate121
It’s crazy how no one in the media brought up the fact that Donald Trump won all 7 swing states by a margin just below recount levels which is mathematically on the level of winning the lottery.
The voting machines were rigged for Trump in 2016, 2020 and 2024. The only thing that saved us in 2020 was the massive and overwhelming mail-in vote due to Covid. Trump and Musk couldn’t
overcome that, hadn’t accounted for it in advance, and that’s why Trump immediately melted down & installed DeJoy at USPS to halt vote by mail. It also is why Trump was wholly consumed by calling 2020 a “stolen election.” He knew he’d rigged it. He probably lost by 10-15 million votes in all 3 elections.

A Trumpworld Events Company Is Raking In Millions in Federal Contracts
The Trump administration has awarded Event Strategies several contracts—including one that could be worth up to $100 million—with little competition, according to federal filings.
An events company whose associates helped stage the January 6, 2021, rally has signed contracts worth over $26 million with the United States government, according to documents reviewed by WIRED. Since President Donald Trump’s return to the White House, Event Strategies, a Virginia-based firm with deep ties to Trumpworld, has negotiated a contract with the General Services Administration that could be worth up to $100 million over the next 15 years.

Democratic Party according to @Polymarket are the favorites to take control of the House and Senate. Democrats have won 95% of special elections with 27% switching from Red to Blue.

Andy Thomson wins his election to be the first Democratic mayor of Boca Raton in over 30 years. After a recount he extended his win from 1 vote to 5 votes.

LINKBITCOIN

You don’t need as much Bitcoin as you might think

▓▓▓—▓▓▓—▓▓▓