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Gemini, BlackRock, and Citadel Publicly Deny LUNA Manipulation

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Gemini, BlackRock, and Citadel Publicly Deny LUNA Manipulation

    • Gemini, BlackRock (NYSE:BLK), and Citadel publicly deny any involvement in the LUNA controversy.
    • The three entities are accused of market manipulation by purposefully crashing LUNA’s market value.
    • Charles Hoskinson deletes his tweet of the rumors; Billy Markus mocks the absurdity of the allegations.

In the latest update of the rumors surrounding LUNA’s market collapse, all parties involved in the allegations have publicly denied any involvement. The companies in question are Gemini, BlackRock, and Citadel. The rumor mill started after messages appeared on 4chan and Telegram accusing the three companies of market manipulation.

Gemini, through their Twitter (NYSE:TWTR) account, publicly denied the allegations.

BlackRock and Citadel both followed suit in denying the allegations. BlackRock Spokesperson Logan Kofflet said, “Rumors that BlackRock had a role in the collapse of UST are categorically false. In fact, BlackRock does not trade UST.” Similarly, a Citadel Spokesperson told a reliable source that, “Citadel Securities does not trade stablecoins, including UST.”

At this stage, the crypto community has dismissed the rumors as mere hearsay. This could be seen as Charles Hoskinson himself deleted his initial tweet of the allegations after Gemini denied any involvement. Similarly, Dogecoin Founder Billy Markus took a sarcastic jab highlighting the absurdity of the allegations.

psh who are we supposed to believe, you guys or some anonymous green text larper on 4chan!?!?!?

The rumors began days ago after the crypto market – especially LUNA – crashed in market value. The allegations began in a 4chan post that had spread throughout Twitter and Telegram. More fuel was added to the fire when Charles Hoskinson – in a now-deleted tweet – shared the rumors with his Twitter followers.

Charles Hoskinson’s now-deleted Tweet of a Telegram message shared to him.

In related news, Terraform Labs Founder and CEO Do Kwon announced details on a recovery plan for TerraUSD (UST).

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Cryptocurrency

BIFI gains 100%+ after Beefy Finance adds new vaults and stablecoin liquidity pools

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BIFI gains 100%+ after Beefy Finance adds new vaults and stablecoin liquidity pools

Winston Churchill’s statement to “never let a crisis go to waste” can be applied across many aspects of society, including the recent carnage seen in the crypto market. Last week’s volatility is likely to have newer investors and those who took on heavy losses questioning the future of the burgeoning asset class, but in every bear trend there is a silver lining.

One platform that appears to be capitalizing on the void created by TerraUSD’s (UST) collapse is Beefy Finance (BIFI), a multi-chain yield optimizing decentralized finance protocol.

BIFI/USDT 4-hour chart. Source: TradingView

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Cryptocurrency

Commissioner Kristin Johnson to sponsor CFTC Market Risk Advisory Committee

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Commissioner Kristin Johnson to sponsor CFTC Market Risk Advisory Committee

United States Commodity Futures Trading Commission (CFTC) commissioner Kristin N. Johnson was named the sponsor of the agency’s Market Risk Advisory Committee (MRAC) on Tuesday. She replaced CFTC chair Rostin Behnam in that role.

Johnson was nominated to be a CFTC commissioner by U.S. President Joe Biden in September 2021, concurrent to the nominations of commissioner Christy Goldsmith Romero and acting chairman Behnam as the permanent chair. Johnson was sworn in on March 30. She moved into the position after spending over a decade as a law professor. Johnson is the author of academic papers in which she has advocated for stricter controls over cryptocurrency. Johnson said in a statement:

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Crypto users react to Terraform Labs legal team purportedly leaving company

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Crypto users react to Terraform Labs legal team purportedly leaving company

The ongoing saga with Terraform Labs, the blockchain developer behind Terra (LUNA), took a turn following a supposed change in employment status for many on the firm’s legal team.

According to their LinkedIn profiles, Terraform Labs general counsel Marc Goldich, chief litigation and regulatory counsel Noah Axler and chief corporate counsel Lawrence Florio have all stopped working for the blockchain firm as of May 2022. Goldich started at Terraform Labs in August 2021 while Axler and Florio joined in January 2022.

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