Citadel

Coin

<ul class="news-points">
 <li>Terraforms filed a motion requesting the court to compel Citadel to produce its May 2022 trading documents.</li>
 <li>The company claimed Citadel CEO Ken Griffin intended to short the stablecoin around the time it collapsed.</li>
 <li>Terraform said the TerraUSD collapse resulted from a concerted effort of third-market participants.</li>
</ul>
Terraform Labs filed a motion in the U.S. District Court for the Southern District of Florida on October 10 to seek permission to look into the trading books of Citadel Securities. The company has once again leveled an allegation that Citadel, an American market-making firm, was behind the TerraUSD collapse.
In particular, Terraform has approached the court to compel Citadel to provide documents on its trading actions in May 2022, when TerraUSD (UST) collapsed. Terraform argued that the stablecoin’s collapse was not an algorithmic failure but a result of deliberate and concerted “third-party market participants” efforts.&nbsp;&nbsp;
The filing mentioned Kenneth Griffin, CEO of Citadel, and said, “Raders active in <a href="https://coinedition.com/market/" rel="noopener noreferrer nofollow">cryptocurrency markets</a> received information, or accessed rumors, that Ken Griffin and/or Citadel were seeking to short UST.” Moreover, the f…
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/terraform-labs-claims-third-parties-caused-ustc-collapse-filing/">Terraform Labs Claims Third-Parties Caused USTC Collapse: Filing</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Terraform Labs Claims Third-Parties Caused USTC Collapse: Filing

Coin Edition

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