Asset manager GAM Holding AG said it has begun talks with Terraform Labs to help the company support UST and Luna.
GAM said it is willing to invest $2 billion to $3 billion to buy out UST’s excess supply, which would help peg UST to the U.S. dollar.
“Our interest in supporting UST reflects our interest in supporting a dynamic, innovative and sustainable crypto market. We believe strongly in the Terra ecosystem. Equally important, we believe in an algorithmic approach to UST. When investors have the right incentives, they naturally trade in a way that supports price stability,” said GAM CEO Peter Sanderson.