Crypto Market Manipulation by Citadel

By now you've likely seen the theory that Citadel is to blame for the depegging of UST. Most will likely chalk this up to a conspiracy theory but after having seen the manipulation Citadel is capable of from a certain stonk over the last year and a half I honestly personally 100% believe the theory. In the last couple months Ken Griffin was already in the news talking about essentially becoming a market maker for the crypto markets.

They are already experts at profiting off of destroying companies on the US market through criminal means even in a regulated market so if you don't think they could do so in an unregulated crypto market you are naive. Heed my words, they are looking to be top dogs in the crypto markets to make manipulation even easier for them, this is just the beginning. If they become "market makers" in the crypto markets then anyone who's long on their coins should be worried. If you personally don't believe the theory that's fine but you can't argue that's it's not certainly plausible if you've done any DD on Citadel.

For those who are not familiar with the theory yet here's a quick ELI5

• Citadel borrows 100k BTC
• Trades 25k BTC for UST
• Opens a short
• Starts dumping 75k BTC aggressively
• Once BTC reached 30k they started dumping UST to make it lose its peg
• Now Kwon is forced to sell 25k BTC at a major loss to recover the peg, further dumping the price of BTC
• Meanwhile Citadel is shorting all the way