Citadel Denies Terraform's Accusations of Causing UST Collapse, Calls Claims Conspiracy Theory

Citadel Securities denies Terraform Labs' claim that it caused the collapse of stablecoin terraUSD (UST) in May 2022.

Citadel calls the accusation a "ridiculous conspiracy theory" used to distract from charges against Terraform Labs and Do Kwon.

Citadel says it only engaged in two small test transactions with UST totaling 13 cents.

Terraform cited social media posts as evidence, but Citadel calls the sources like "Gigantic Rebirth" absurd.

Citadel wants sanctions against Terraform for abusing discovery process and having no good faith basis for its requests.