Asset manager BlackRock and hedge fund giant Citadel Securities each denied trading TerraUSD in separate emails to Forbes.
This remark is in response to recent rumors that these financial giants have united to borrow 100,000 bitcoins (about $3 billion at today’s prices) from cryptocurrency exchange Gemini to buy UST, only to sell off the asset causing the market to crash and destroy more than 250 BTC. LUNA based on $100 million market cap.
Following a tweet from Gemini earlier today denying any large institutional counterparty a 100,000 bitcoin loan, Citadel sources confirmed that the company does not trade stablecoins, including UST.
BlackRock spokesman Logan Koffler said: “Rumours about BlackRock’s role in the UST slump are absolutely false, and in fact, BlackRock does not trade UST.