BlackRock, Inc. (NYSE: BLK) and Citadel Securities have denied any involvement in the collapse of Terra’s (CRYPTO: LUNA) algorithmic stablecoin TerraUSD (CRYPTO: UST).
What Happened: According to a Wednesday report from Forbes, both the investment firms said in separate emails that they do not trade stablecoins like UST.
“Rumors that BlackRock had a role in the collapse of UST are categorically false. In fact, BlackRock does not trade UST,” a BlackRock spokesperson said.
The rumors in question refer to a claim that BlackRock and Citadel had borrowed 100,000 Bitcoin (CRYPTO: BTC) worth …
Full story available on Benzinga.com