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Swiss asset manager denies $3B LUNA/UST bail-out talks -Breaking


Terra doesn’t need a rescue: The Swiss asset manager has denied Terra $3B of LUNA/UST bailout discussions

GAM Investments denies a false report that GAM Investments claimed on Friday, that the Swiss asset manager would spend $3 billion in ecosystem recovery. LUNATrueUSD (UST), stablecoin

A May 12 announcement stated that Terraform Labs was in discussions with the company to help in this endeavor. Recovery attempts after Terra’s algorithmic stablecoin UST lost its $1 peg — causing a cataclysmic crash of the acclaimed blockchain protocol which had become a darling of the Decentralized Finance space.