{"id":47334,"date":"2022-05-13T11:49:06","date_gmt":"2022-05-13T09:49:06","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=47334"},"modified":"2022-05-13T11:49:06","modified_gmt":"2022-05-13T09:49:06","slug":"asset-manager-gam-holding-ag-negotiates-with-terraform-labs-to-back-ust","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/asset-manager-gam-holding-ag-negotiates-with-terraform-labs-to-back-ust\/","title":{"rendered":"Asset Manager GAM Holding AG Negotiates with Terraform Labs to Back UST"},"content":{"rendered":"
The global leader in asset management, GAM Holding AG<\/strong>, is pleased to announce that it has entered into negotiations with Terraform Labs (Terra)<\/strong> to support Luna stablecoin. In order to absorb the excess supply of UST during this current sell-off, GAM is projected to invest between $2 billion and $3 billion<\/strong>. UST’s peg to the US dollar is being re-established in a move aimed at re-establishing its stability.<\/span><\/p>\n It is recognized as one of the world’s leading independent and pure-play asset managers. Through its three subsidiaries, namely Investment Management, Fund Management Services, and Wealth Management<\/strong>, the company offers active investment solutions and products to institutions, financial intermediaries, and private investors.<\/span><\/p>\n To give you an idea of how many full-time employees GAM has, as of 31 December 2021, they have 605 FTEs in 14 countries<\/strong> with investment centers in London, Cambridge, Zurich, Hong Kong, New York, Milan, and Lugano<\/strong>. A global distribution network provides support to investment managers through a range of services. GAM has its headquarters in Zurich, Switzerland, and is listed on the SIX Swiss Exchange under the symbol ‘GAM.’ By the end of March 2022, the Group is expected to have an AuM of CHF 94.8 billion (USD 103 billion).<\/span><\/p>\n GAM CEO Peter Sanderson <\/span>said<\/span><\/a>:<\/span><\/p>\n “Our interest in supporting UST reflects our interest in supporting a vibrant, innovative, and resilient crypto market. We firmly believe in Terra’s ecosystem. Just as importantly, we believe in UST’s algorithmic approach to valuation. When investors have proper incentives, they naturally trade in ways that maintain price stability. When black swan events impact markets, opportunities blossom. We see opportunity in UST’s recent activity and continue to see promise in Terra’s broader strategy.”<\/span><\/em><\/p>\nSaving the Stablecoin?<\/span><\/h2>\n