Citadel Securities says Terraform acted in ‘bad faith’ by alleging role in UST depeg

Citadel Securities, in response to a court filing from Terraform Labs earlier this month, says it had nothing to do with the 2022 depeg of the stablecoin UST. 

In a filing that pushes back against a motion to compel by Terra, Citadel claimed that Terra is attempting to “deflect” from allegations that it conspired with Jump Trading to “pump up the asset prices.”

“Terraform uses a motion to compel to pursue a ridiculous conspiracy theory ‘exposing’ the purportedly hidden role of Citadel Securities in its self-imposed disaster. Not only is the time period of the request irrelevant, but the theory is baseless,” the filing said.

Terraform did not immediately respond to a…

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