Billionaire Ken Griffin’s Citadel Securities Denies ‘Ridiculous’ Claim That It Tanked Do Kwon’s Terra (LUNA)

The Terra community and Do Kwon rose to the very best tier of the crypto world due to big-shot traders, solely to crumble inside a couple of days in Could 2022. On Could 7, the worth of the then-$18-billion algorithmic stablecoin UST, which is meant to take care of a $1 peg, began to wobble and fell to 35 cents on Could 9. Its companion token, LUNA, which was meant to stabilize UST’s worth, fell from $80 to a couple cents by Could 12. The collapse despatched a shockwave all through the crypto sector, ultimately resulting in a protracted crypto winter.