Cryptocurrencies
Stablecoin Rescue Plan Gets Cold Shoulder From Big Investors
- Alameda, Celsius, Galaxy Digital, Jump among those in talks
- Do Kwon had alluded to recovery efforts for UST on the way
This article is for subscribers only.
Backers of TerraUSD (UST), the closely-watched algorithmic stablecoin that broke from its dollar peg, are struggling to win investor support for a rescue.
Talks stalled after big-name firms were approached by various individuals with connections to Terraform Labs in recent days, according to sources familiar with the matter who asked not be named because the discussions are private.