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Sharing the opinion of a source close to the matter and far smarter than me ≠ my own opinion. Here is my (likely more uninformed) take. Everything I know points to signs that there was a real attack on the peg (ie. 'heavy sell pressure') but I don't think it was Citadel. (1/3)https://twitter.com/FatManTerra/status/1529479744990892033 …
Reasons: - Citadel ($40b+) outright denied being involved with UST trading, why severely risk their reputation for $0.5b-$3b? (I don't know exact figures.) - You need a large amount of UST to execute this attack, which is not easy to get inconspicuously or on short notice (2/3)
Conclusions: - Whoever did this was most likely a big fund in the crypto space with at least some existing UST exposure - Do Kwon probably has some leads on who it is since he executed a bunch of OTC UST & LUNA sales throughout the year (3/3)
@FatManTerra I’am not sold on your first point. I don’t think Citadel cares much for their reputation amongst crypto users.. it’s CEO is the one that labelled crypto ‘a jihadist call’ against the dollarhttps://www.bloomberg.com/news/articles/2021-10-04/griffin-sees-crypto-mania-as-jihadist-call-against-the-dollar …
And then managed to buy the copy of the US constitution that the #ConstitutionDAO wanted to buy. Not the best ways to make friends in crypto!https://www.cnbc.com/2021/11/19/citadel-ceo-ken-griffin-pays-43point2-million-for-constitution-copy-outbidding-crypto-group.html …
I'm not saying it was Citadel, but why are you putting so much weight behind a denial? Did you analyze the statement? Did you consider the linguistic gymnastics commonly used to make the statement true even if only based on a technicality? Think a little harder on this one.
I can't even find a specific denial quote from Citadel that is attributable to a named person or a press release. Can you? I see the same AP News story equivalent rehashed everywhere, without any specifics.
Well said. This rumor was started during a time in which many UST and LUNA holders were desperate for an explanation. If this same rumor was posted but today instead of 2wks ago, I think it wouldn’t have reached more than a few dozen people.
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