No rescue for Terra: Swiss asset supervisor denies $3B LUNA/UST bail-out talks

No rescue for Terra: Swiss asset supervisor denies $3B LUNA/UST bail-out talks

No rescue for Terra: Swiss asset supervisor denies $3B LUNA/UST bail-out talks

GAM Investments has quashed groundless news studies that surfaced on Friday that claimed the Swiss asset supervisor would make investments some $3 billion to aid within the recovery of the Terra ecosystem, at the side of LUNA and the TerraUSD (UST) stablecoin.

An announcement printed on Thursday claimed that the firm became once horny in talks with Terraform Labs to aid in recovery trys after Terra’s algorithmic stablecoin, UST, lost its U.S. dollar peg, causing a cataclysmic wreck of the acclaimed blockchain protocol, which had change into a darling of the decentralized finance (DeFi) dwelling.

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