The world of crypto is rich territory for some pretty mind-bending stories.

Nobody saw this coming.

Following the catastrophic collapse of Terra's algorithmic stablecoin, TerraUSD (UST), Citadel Securities and major asset manager BlackRock have strongly denied conspiracies linking them to the crash.

After rumours surfaced across multiple social media platforms, it was alleged that the firms took a sizable Bitcoin loan from crypto exchange Gemini, exchanging it for UST before dumping all the funds.

Gemini took to Twitter weighing in on the turmoil, stating ??"Gemini made no such loan." Meanwhile, Terra has still continued its downward spiral, showing no positive signs of recovery.