Asset manager BlackRock, fund Citadel Securities and exchange Gemini officially announced that they were not involved in the collapse of the steblecoin UST and Luna.
Earlier, rumors surfaced that BlackRock and Citadel borrowed 100,000 bitcoins from Gemini and exchanged 25,000 bitcoins for UST. The companies then contacted Terraform Labs CEO Do Kwon and said they were going to sell a significant amount of bitcoins, offering to buy most of the BTC at a discount for UST.
The companies then dumped UST and BTC, thereby collapsing Luna and bitcoin.
As of this writing, Luna is down to $0.14 and UST is down to $0.50.
Holpop News
Holpop News
BlackRock, Citadel and Gemini say they had nothing to do with the collapse of UST and Luna
posted on May 12, 2022 by holpop in Blockchain
