In fact, BlackRock does not trade UST,” said Logan Koffler, a spokesperson for BlackRock.Īt the time of this writing, LUNA has lost over 90% of its value to be trading at $0.08. “Rumors that BlackRock had a role in the collapse of UST are categorically false. Citadel Securities has publicly stated that it had no hand in the crash as it does not even trade stablecoins. Both BlackRock and Citadel have denied the accusations as well. Gemini is not the only institution that has come out to debunk these rumors though. Related Reading | Stablecoin Dominance Grows As Crypto Assets Are Obliterated Gemini made no such loan,” the statement read. “We are aware of a recent story that suggested Gemini made a 100K BTC loan to large institutional counter-parties that reportedly resulted in a selloff in $LUNA. In the post, Gemini denies any wrongdoing and expressly stated that it had in fact not provided any such loan to any of the parties named in the screenshot. It is alleged that the exchange had provided a 100,000 BTC loan to these institutions, which they had subsequently ‘used’ to crater the cryptocurrency, causing $25 billion to be wiped off LUNA’s market cap. LUNA trading at $0.29 | Source: LUNAUSD on Gemini Responds To UST RumorsĬrypto exchange Gemini which was one of those accused in this screenshot has come out to deny the accusations that it was involved in the UST crash. This has pushed them to address these rumors. In true Twitter fashion, community members had quickly circulated this screenshot around the interwebs, causing a flurry of accusations against these institutions.
The screenshot accused these three institutions of coordinating the attack on Terra, using both UST and BTC, ending that it was pure market manipulation on their end.
Screenshot of the deleted Charles Hoskinson tweet | Source: Twitter
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