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TerraUSD Backers Seek $1.5 Billion Rescue, Cashaa CEO Says

  • UST stablecoin crashed from dollar peg in past few days
  • Prospective investors can buy Luna coin at 50% discount
Bloomberg business news
Terra USD Stablecoin Plunges From Intended Dollar Peg
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The backers of the TerraUSD algorithmic stablecoin are trying to raise about $1.5 billion to shore up the token after it crashed from its dollar peg, according to the founder of a firm that was approached about the deal.