Terraform Labs affirme que Citadel Securities a contribué à leffondrement de son stablecoin
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 TerraUSD (UST) stablecoin in 2022. On Oct. 10, Terraform Labs filed a motion in the United States District Court in the Southern District of Florida to compel Citadel Securities to produce documents relating to its trading actions in May 2022, around the time its stablecoin, now known as TerraUSD Classic (USTC), depegged. 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 instead of instability in its algorithm. “Movant [Terraform] contends that the market destabilization that occurred did not result from instability in the algorithm underlying the UST stablecoin,” said the firm in its motion. « Au lieu de cela, Movant affirme que le marché a été déstabilisé en raison des efforts concertés et intentionnels de certains acteurs tiers du marché pour « vendre à découvert » et amener lUST à sécarter de son prix dun dollar. The motion also cites “publicly available evidence” suggesting that Citadel head Ken Griffin intended to short the stablecoin around the time of




