Blackrock, Citadel, Gemini Deny Involvement in Terra Collapse – Featured Bitcoin News

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Blackrock, Citadel, Gemini Deny Involvement in Terra Collapse – Featured Bitcoin News
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Blackrock and Citadel have denied rumors that they had a role in the fall of $UST and $LUNA. crypto cryptocurrency bitcoin $BTC

On Wednesday, the official Twitter account of Blackrock, the world’s largest asset manager, tweeted:

Rumors that we had a role in the collapse of UST are categorically false. In fact, Blackrock does not trade UST. The asset manager recently backed Circle Internet Financial Ltd., the issuer of another stablecoin called USD Coin . Circle’s stablecoin is currently the fourth-largest crypto with a market cap of almost $50 billion.We are aware of a recent story that suggested Gemini made a 100Kloan to large institutional counter-parties that reportedly resulted in a selloff in LUNA. Gemini made no such loan.

Hedge fund giant Citadel Securities similarly said that it had nothing to do with the collapse of the stablecoin UST. A representative of the firm told Bloomberg that the company “does not trade stablecoins, including UST.”that it plans to engage in making markets in cryptocurrencies over the coming months.

The collapse of LUNA has shaken the crypto market. At the time of writing, the price of the cryptocurrency has fallen to $0.035, down almost 100% over the past 24 hours. Meanwhile, UST dropped to a low of $0.30 on Wednesday but has since bounced back to the current price of $0.60.

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