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Von Krypto News Österreich

it seems that someone does not get along well with the whole Terra/Luna-Mnishambles. At all. Take a look at what ended up in our inbox this morning.

13. May 2022
press release

GAM Holding AG is not in negotiations with Terraform Labs for support
The Luna Stable Coin

A press release that is allegedly coming from the GAM Holding was published on May 12th on May 12th. There is no truth in history and gam did no press release. GAM has strict controls on the
distribution of press releases, and we examine the source
of this story and how it was published.

The fake "press release" was published last night via the Pay-Post service by Accesswire with the logo of GAM, a quote from CEO Peter Sanderson and even a telephone number to contact the company's flack. (FTAV tried to call it several times, but unfortunately it didn't work). At the pixel time it is still on the accesswire site, but in the event that this changes, we duplicate it below:

gam holding could be Terra's white knight

leading asset manager could save VAT at billions of bills

Zurich, Switzerland / Accesswire / May 12, 2022 / The leading asset manager GAM Holding AG is pleased to announce that he is negotiating with Terraform Labs (Terra) to support his Luna StableCoin (VAT). GAM is expected to invest between $ 2 and $ 3 billion to absorb the excess range of VAT during the current sale. The step aims to restore the bond from VAT to the US dollar.

"Our interest in supporting VAT reflects our interest in supporting a dynamic, innovative and resistant cryptoma market," notes Gam CEO Peter Sanderson. "We believe in Terra's ecosystem. It is just as important that we believe in VAT's algorithmic evaluation approach. If investors have appropriate incentives, they naturally act in such a way that the price stability is preserved. If black-swan events have an impact on the markets. Terra strategy. “

As was to be predicted, the fake press release was immediately taken up by sales silos and a mixture of known cryptless crypto sales outlets Social href = "https://twitter.com/technosapiensit/1525058464712194?s=20&t=rx8w3wkqb4qh9xtgfopma" Data-Trackable = "Medien Accounts . The despair is forever, especially in the world of digital assets.

The crypto brothers behind the publication is thanks to the fact that there is an admirable lack of typing gliders. The fake Sanderson quote has exactly the right tenor of the waffle. As a connoisseur of the fake press release, we cannot avoid admiring one that is a bit more decent than most others. And Gam has a certain story when it comes to dodgy investments, so it might seem to be a plausible candidate here.

But the idea that a battered medium -sized Swiss asset manager would pump $ 3 billion into an already imploded algorithmic stable coin shows how tragicomically stupid the whole saga has become.

The collapse was undoubtedly as tragic for many people who put their life savings into magical internet money, they just have to recognize that Terra/Luna is NGMI.

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Source: Financial Times