Jane Street has reported a record $39.6 billion in trading revenue for 2025, surpassing JPMorgan's $35.8 billion, despite having significantly fewer employees. This achievement highlights a stark productivity contrast in the financial sector. However, Jane Street's success is overshadowed by legal scrutiny, including allegations of market manipulation in India and insider trading related to the Terra-Luna collapse. The Securities and Exchange Board of India (SEBI) has accused Jane Street of manipulating bank stocks and index options, leading to a $567 million impoundment. In the U.S., a lawsuit claims Jane Street used non-public information to avoid $200 million in losses during the LUNA collapse. These legal challenges could lead to stricter compliance measures for crypto market makers, as regulators push for greater transparency and oversight in digital asset trading.