Terraform has filed a motion to compel Citadel Securities to comply with a request to hand over trading data and documents.
Terraform Labs has urged the judge to grant its motion to compel trading data from Citadel Securities, which it says had a hand in the collapse of USTC in May 2022.Do Kwon-founded Terraform Labs has again pointed the finger at market maker Citadel Securities for its role in an alleged “concerted, intentional effort” to cause the depeg of its stablecoin in 2022.
It contends the May 2022 depeg, when the asset crashed from $1 to $0.02, was caused by"certain third-party market participants” intentionally shorting the stablecoin, as opposed to instability in its algorithm. “Instead, Movant contends that the market was destabilized due to the concerted, intentional effort of certain third party market participants to “short” and cause UST to depeg from its one dollar price.”
“There is publicly available evidence suggesting that the head of the Citadel Entities, Ken Griffin, intended to short UST at or about the time of the May 2022 depeg.”
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
mAsset Transactions Were Security-Based Swaps: How Terraform Violated the Securities ActThe SEC claims that the mAsset transactions were security-based swaps. If this is the case, that means that Terraform violated the Securities Act,
Read more »
Terraform and Do Kwon Sold Crypto Asset Securities in Unregistered TransactionsThe SEC is accusing Terraform and Do Kwon of selling crypto asset securities in unregistered transactions.
Read more »
Terraform Labs and Do Kwon Misled, Deceived, and Defrauded InvestorsThe SEC is accusing Terraform Labs and Do Kwon of misleading, deceiving, and defrauding investors.
Read more »
The Collapse of the Terraform Ecosystem: How It All Came Crashing DownThis is it. This is how the Terraform Ecosystem collapsed.
Read more »
How Terraform Promoted The Mirror Protocol and Got People to Buy MIR TokensThe SEC breaks down how Terraform promoted the Mirror Protocol and got people to buy MIR tokens.
Read more »
Terraform Was Farming MIR Tokens: What This Meant for the Company and the InvestorsTerraform farmed MIR tokens, more than they needed to. Here's why:
Read more »