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Citadel Securities, BlackRock Deny Involvement in Terra Fall

  • Companies respond to rumors circulating on social media
  • Algorithmic stablecoin TerraUSD crashed in dramatic fashion
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WATCH: TerraUSD slumped on Wednesday, wiping out billions of dollars of value. Bloomberg MLIV’s Eddie van der Walt has more.Source: Bloomberg
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Citadel Securities, no stranger to social-media controversies, has found itself the subject of another one: the collapse of the algorithmic stablecoin TerraUSD, which it says it had nothing to do with.

The trading firm says it is not involved in the situation and “does not trade stablecoins, including UST,” a representative for the firm told Bloomberg, repudiating claims circulating on social media in recent days. BlackRock Inc, also named in various posts, denied their involvement.