• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, July 10, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

BlackRock and Citadel deny the rumours of investing in UST!

by Nishant K
May 12, 2022
in Crypto
Reading Time: 2 mins read
0
Gemini Denies Rumors

Picture Credits: Cointelegraph

TwitterWhatsappLinkedin

 

You might also like

Bitcoin Takes the Lead: SaruTobi Becomes First iOS Game with Native Microtransactions

Dubai Airline Embraces Crypto: Emirates Taps Crypto.com for Payments

GameSquare Accelerates with $100M Ethereum Treasury Strategy, Stock Soars 60%

An Overview about BlackRock and Citadel:

BlackRock INC. is an American multinational investment management corporation based in New York City. Black Rock was recently also announced as the primary reserve manager for Stable coins USDC which is managed by Circle and Coinbase. Citadel is an American multinational Hedge Fund and Financial services company. The credibility of Citadel is highly relied on and based on this reason it received an investment of $1.15billion from crypto venture giant Paradigm. Citadel’s CEO also was successful in earning many cryptophiles when he outbid a number of crypto investors.

 

The Rumour about BlackRock and Citadel that brought the troubled Terra USD an UST down.

Rumour about BlackRock
Picture Credits: Fortune
Rumors about Citadel LLC
Picture Credits: Financial News London

As they say, wild fire spreads quickly, so do rumours. In this case, BlackRock INC and Citadel LLC are accused for borrowing 100,000 bitcoins from a crypto currency exchange Gemini. The rumour is that these funds are being used to acquire Terra USD an UST. It is also coming into light that, these MNC’s acquired these assets so that they can control the market and accrue to more power and wealth from the market. Some of them also believe that these companies, dumped the UST to collapse the market and wipe out more than $25billion in the underlying LUNA value.

 

Gemini and its statement on the borrowing made from them.

Since, UST price dropped below its stipulate USD price peg, many rumours are making rounds in the market which are directly or indirectly affecting the market. The rumour about two major MNC’s borrowing 100,000 bitcoins from crypto currency exchange Gemini was one among them. Gemini, after hearing about the rumour has denied it without any delay. Gemini denies that it gave any loan BlackRock and Citadel.

 

UST Issue:

There has been the issue with UST for a long time now. UST is failing to achieve the basic USD price peg and causing a lot of panic in the market. From the panic-stricken investors, rumour about various kinds of investments by different companies are going around. The asset is now valued at $0.65 which is evidently below $1. There are numerous recovery plans that are underway. CEO De Kwon also announced certain changes to project’s economics including a proposal that could increase LUNA’s minting capacity and adjustments to collateralization. The major objective of these leading CEOs is to stabilize the market for UST before it collapses even more. The need for a strict frame work, good credibility acquired systems are mandatory for the market to have a chance to survive.

Tags: #Citadel#Crypto#cryptocurrency businesses#USTBlackRockCitadel Capital Managementterra usd
Tweet54SendShare15
Previous Post

Instacart Files Confidentially for IPO

Next Post

When to Invoice a Client

Nishant K

Recommended For You

Bitcoin Takes the Lead: SaruTobi Becomes First iOS Game with Native Microtransactions

by Anindya Paul
July 10, 2025
0
SaruTobi

Apple has officially approved its first iOS game that supports native Bitcoin microtransactions. This appears to be a landmark moment for mobile gaming. The game is called SaruTobi,...

Read more

Dubai Airline Embraces Crypto: Emirates Taps Crypto.com for Payments

by Anindya Paul
July 9, 2025
0
Crypto.com

In a very bold statement about the growth of technology in the Middle East, Dubai-based Emirates Airline has announced a tentative agreement with Crypto.com. This is a big...

Read more

GameSquare Accelerates with $100M Ethereum Treasury Strategy, Stock Soars 60%

by Anindya Paul
July 9, 2025
0
GamesSquare

GameSquare Holdings took Wall Street by surprise this week. The company’s stock jumped a staggering 58.8% on Tuesday and extended gains to 6.5% in after-hours trading—highlighting growing investor...

Read more
Next Post
When to Invoice a Client

When to Invoice a Client

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?