Citadel accused of Stablecoin collapse confronted by Terraform Labs

Citadel accused by Terraform Labs for intentional stablecoin collapse

Citadel Securities was accused by Terraform Labs led by Do Kwon for intentionally causing the depegging of its stablecoin, TerraUSD Classic in May 2022. Terraform filed a case against Citadel Securities in Florida court to compel producing documents related to trading actions. In 2022 Citadel Securities denied USD trading. In a lawsuit by the SEC these documents are crucial for Terraform’s defence as these documents allege involvement in a multi-billion-dollar crypto asset securities fraud. Terraform seeks a transfer to a New York court for a decision if denied.