Did UST illness due to the fact that of a shadowy conspiracy involving the aforesaid formed of characters from the GameStop abbreviated squeeze? Or was it due to the fact that of a structural occupation with the quality of stablecoins?
Bad quality for those who judge the former: Everyone named successful this conspiracy mentation has travel retired with swift denials.
While BlackRock manages currency reserves for USDC, it said successful a nationalist connection it doesn't commercialized UST.
Likewise, Citadel Securities has publically stated that it does not commercialized successful stablecoins.
Gemini said successful a tweet that it has made nary specified indebtedness arsenic claimed successful the conspiracy theory.
The conspiracy mentation alleges that BlackRock and Citadel borrowed 100,000 bitcoin from Gemini and swapped 25% for UST. Then the 2 companies dumped the UST and BTC crashing Luna and the terms of bitcoin.
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