Were BlackRock and Citadel involved in the Terra (LUNA) collapse? Rumors have been swirling around the internet, linking these two financial giants to the downfall of Terra's algorithmic stablecoin, UST. Let's set the record straight.

BlackRock and Citadel Deny Trading UST

In response to widespread rumors, hedge fund giant Citadel Securities and asset manager BlackRock say they don't trade any of the notorious TerraUSD, a stablecoin. BlackRock, Inc. (NYSE: BLK) and Citadel Securities have denied any involvement in the collapse of Terra’s (CRYPTO: LUNA) algorithmic stablecoin TerraUSD. BlackRock and Citadel have strongly denied ever trading in UST.

Addressing the Gemini Bitcoin Loan Rumors

Rumors, which began two days ago, claimed that Gemini had lent Bitcoin to BlackRock. BlackRock and... well, you get the picture. The implication was that this Bitcoin was then used to somehow destabilize UST. However, these claims are unfounded and have been firmly refuted.

The Bottom Line: No BlackRock or Citadel Involvement

After rumors started to circulate on social media that BlackRock and Citadel were involved in the recent collapse of Terra (LUNA) after its algorithmic stablecoin, both have denied involvement. While speculation continues to run rampant in the crypto space, it's important to rely on verified information. BlackRock and Citadel Securities have definitively stated they had no position in UST and were not involved in its destabilization.

So, the next time you see rumors linking BlackRock and Citadel to the Terra/LUNA saga, remember the facts: they have denied any involvement.