Citadel Securities, BlackRock, Gemini Slam Social Media Accusations of Involvement With UST Collapse

2 years ago

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.

The Festival for the Decentralized World

Thursday - Sunday, June 9-12, 2022

Austin, Texas

Save a Seat Now

DISCLOSURE

Please enactment that our

privacy policy,

terms of use,

cookies, and

do not merchantability my idiosyncratic information

has been updated.

The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a

strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of

Digital Currency Group, which invests in

cryptocurrencies

and blockchain

startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of

stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.


Sign up for Crypto for Advisors, our play newsletter defining crypto, integer assets and the aboriginal of finance.

By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.

View source