Sources: Luna Foundation Guard aims to raise $1B+ to shore up its UST stablecoin; one deal in negotiations offers LUNA tokens for 50% off
which is meant to be pegged to the dollar — plummets below 30 cents Bloomberg : TerraUSD Backers Seek $1.5 Billion Rescue, Cashaa CEO Says Tweets: Larry Cermak / @lawmaster : The details I have heard but might not be final: - Jump, Celsius and Jane St. committed already, Alameda not yet - targeting $1B - $1.5B raise - 50% discount to LUNA spot with 1yr lock + monthly linear vest over 1yr - total of ~$700M in commitments as of morning https://twitter.com/... Justina Lee / @justinaknope : I guess a 50% discount isn't too attractive for a token that has *checks notes* lost 90% in the last 24 hours https://twitter.com/... Larry Cermak / @lawmaster : @Mudit__Gupta Yea as far as I can tell, the deal is dead LMAO @wublockchain : The Block Larry Cermak says LFG's $1 billion financing plan has failed. He previously said that Terra aims to raise $1-1.5 billion to “save” UST. Jump, Celsius and Jane St. have committed (about $700 million), but Alameda has not. https://twitter.com/... @amdtrades : The most successful companies start off with very little money because they're forced to become resourceful and grow steadily while not missing anything that could hurt the business. When a company has access to large capital right away, everyone gets comfortable. https://twitter.com/... @xamanap : Probably not enough dough. https://twitter.com/... @notsofast : I kind of hate what crypto has become https://twitter.com/... Frank Chaparro / @fintechfrank : Confirms they are still looking to bring in outside capital to “reduce supply overhang on UST” https://twitter.com/... @criptopaul : like a gambler who resorts to loans when he goes rekt https://twitter.com/... @raaleh : incredible that algorithmic stablecoins have gone from “new, revolutionary product” to “incredibly expensive centralised bailout” already https://twitter.com/... Frank Chaparro / @fintechfrank : I'm starting to think they're not close to having a plan @biancoresearch : The crypto federal reserve stepped in and are Kwontitative Easing UST back to its peg. https://twitter.com/... Frank Chaparro / @fintechfrank : Will touch base with my sources shortly, but given the price action this likely fell apart Luna Foundation Guard seeks more than $1 billion to shore up UST stablecoin: sources https://www.theblockcrypto.com/ ... Larry Cermak / @lawmaster : One thing to keep in mind is that this deal is not closed yet and is still in active negotiations. The terms now might be different and obviously, some parties could still de-commit. Would expect an announcement from LFG in the next two days and impressive interest is this high
The details I have heard but might not be final: - Jump, Celsius and Jane St. committed already, Alameda not yet - targeting $1B - $1.5B raise - 50% discount to LUNA spot with 1yr lock + monthly linear vest over 1yr - total of ~$700M in commitments as of morning https://twitter.c…
making moves: Terra now seeking $1.5bn, offering Luna at 50pc discount with 1-year lock up & monthly vest over 12 months. @stablekwon says UST's moving to a collateralized mechanism, but needs more outside cash to do it. w/ the amazing @Suvajourno https://www.bloomberg.com/...
The most successful companies start off with very little money because they're forced to become resourceful and grow steadily while not missing anything that could hurt the business. When a company has access to large capital right away, everyone gets comfortable. https://twitter…
incredible that algorithmic stablecoins have gone from “new, revolutionary product” to “incredibly expensive centralised bailout” already https://twitter.com/...
The Block Larry Cermak says LFG's $1 billion financing plan has failed. He previously said that Terra aims to raise $1-1.5 billion to “save” UST. Jump, Celsius and Jane St. have committed (about $700 million), but Alameda has not. https://twitter.com/...
Will touch base with my sources shortly, but given the price action this likely fell apart Luna Foundation Guard seeks more than $1 billion to shore up UST stablecoin: sources https://www.theblockcrypto.com/ ...
One thing to keep in mind is that this deal is not closed yet and is still in active negotiations. The terms now might be different and obviously, some parties could still de-commit. Would expect an announcement from LFG in the next two days and impressive interest is this high