Blackrock, Citadel, Gemini Deny Involvement in Terra Collapse
The world’s largest asset manager, Blackrock, and hedge fund giant Citadel Securities have denied claims that they had a role in the fall of terrausd (UST) and terra (LUNA). In addition, crypto exchange Gemini has denied making a bitcoin loan that resulted in the terra collapse.
Following the collapse of terra (LUNA) after algorithmic stablecoin terrausd (UST) lost its peg to the U.S. dollar this week, rumors have been circulating that Blackrock, Citadel Securities, and Gemini had some part in the fall. The three companies quickly denied the accusation.According to the rumors, Blackrock and Citadel Securities borrowed 100K BTC from cryptocurrency exchange Gemini and swapped 25% for UST. The two companies subsequently dumped the UST and BTC, crashing the prices of the two cryptocurrencies.
