blackrock rumors terra Citadel Securities, BlackRock Push Back Against Rumors of Involvement in Terra (LUNA) Collapse: Report

Citadel Securities, BlackRock Push Back Against Rumors of Involvement in Terra (LUNA) Collapse: Report

-BlackRock and Citadel Securities are pushing back against the notion that they were involved in the disintegration of LUNA and its stablecoin TerraUSD (UST).

-A representative of Citadel told Bloomberg that the company does not trade in stablecoins, including UST.

-Similarly, BlackRock spokesperson Logan Koffler told Bloomberg that rumors that BlackRock had a role in the collapse of UST are categorically false. In fact, BlackRock does not trade UST.

-Terras price recently witnessed a massive 99% hyperinflationary downswing that saw it go from around $1.00 to $0.0083, prompting the blockchain to cease operations.

-LUNA has dipped even further and is moving for $0.00015 at time of writing.

-TerraUSD also saw a huge price drop as it depegged from the dollar, falling all the way down to $0.08 before rebounding to $0.154 at time of writing.

-However, Terra founder and CEO Do Kwon says he has a plan to preserve the embattled crypto asset by reconstituting the chain and resetting network ownership to one billion tokens.

 

 

blackrock rumors terra Citadel Securities, BlackRock Push Back Against Rumors of Involvement in Terra (LUNA) Collapse: Report
Citadel Securities, BlackRock Push Back Against Rumors of Involvement in Terra (LUNA) Collapse: Report 3

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