Terraform Labs contends Citadel Securities had a hand in its stablecoin collapse

Do Kwon-founded Terraform Labs has once more pointed the finger at market maker Citadel Securities for its position in an alleged “concerted, intentional effort” to trigger the depeg of its stablecoin in 2022.

On Oct. 10, Terraform Labs filed a movement in the USA District Court docket within the Southern District of Florida to compel Citadel Securities LLC to supply paperwork referring to its buying and selling actions in Might 2022, across the time its stablecoin, now generally known as TerraUSD Basic (USTC), depegged.

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