Terraform Labs files motion alleging potential connection between Citadel Securities and UST de-pegging

TechFlow news, October 13 — According to Blockworks, Terraform Labs has filed a motion with the court seeking "certain data from Citadel Securities pursuant to a third-party subpoena," stating it is "critical" for its defense in the lawsuit brought by the U.S. SEC. The motion reveals that Terraform Labs issued subpoenas to Citadel Securities and Citadel Enterprise Americas for trading data related to the de-pegging event in May 2022. Terraform noted that public evidence indicates Ken Griffin, head of Citadel entities, intended to short UST around the time of the May 2022 de-peg. Terraform stated that data from Nansen helped identify "seven so-called 'whales' who had the capacity and intent to take long or short positions on an asset or financial instrument." Additionally, the data showed that "a small number of participants identified vulnerabilities early in the UST de-peg process."