Moody's Head of DeFi Rajeev Bamra considers the role stablecoins play cryptocurrency markets, and the risks posed by "depegging" events.

On October 27th, according to CoinDesk, billionaire Ken Griffin's trading company Citadel Securities denied Terraform Labs' claim that Citadel Securities was the mastermind behind the UST crash in May last year, and stated that Terraform Labs' move was used to shift attention from its accusations, forcing people to pursue absurd conspiracy theories, which are not only irrelevant in terms of the requested time period, but also baseless.

Citadel Securities stated in response to court documents submitted by Terraform Labs earlier this month that it has nothing to do with the decoupling of the stablecoin UST in 2022. In refuting Terra's motion to compel, Citadel claimed that Terra was attempting to "shift" the accusation of colluding with Jump Trading to "boost asset prices" and force an absurd conspiracy theory. Citadel requested that the court dismiss Terraform's motion to compel, stating that it only participated in two test trades with a total value of approximately $0.13 and therefore did not cause the decoupling.