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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 has denied false news claims that GAM Investments would invest $3 billion to help the ecosystem recover. LUNATerraUSD (UST), stablecoin.

A Thursday announcement claimed the company was in discussions with Terraform Labs. Assist in the recovery effortS after Terra’s algorithmic stablecoin, UST, lost its U.S. dollar peg, causing a cataclysmic crash of the acclaimed blockchain protocol, which had become a darling of the decentralized finance (DeFi) space.