No rescue for Terra: Swiss asset manager denies $3B LUNA/UST bail-out talks
– GAM Investments has not invested in Terraform Labs.
– The press release that surfaced on May 12 was fake news.
– The head of communications and investor relations for GAM Investments has called the press release fake news.
– The collapse of the Terra ecosystem has been the focal point of the cryptocurrency space this week.
– Terra’s founder Do Kwon and his team released a proposed recovery strategy for the LUNA ecosystem midweek.
– A day later, LUNA validators took a decision to take the network offline.
– Cryptocurrency exchange Binance took the decision to suspend LUNA/BUSD and UST/BUSD on its spot trading platform following the halting of the Terra blockchain.
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