The TerraUSD algorithmic stablecoin continued to spiral lower, trading at less then 30 cents. Backers of the coin 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. Sonali Basak has more on "Bloomberg Markets."
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Francisco Gimeno - BC Analyst A stablecoin which is not so stable, at the end of the way... While it continues to plunge we are reading the proposal in social media and financial channels to rescue it by raising money to shore it up. There are lots of comments both pro and against it, some calling for leaving it die, which of course is not good for those who invested so much. We are learning a lot from this specific case on what to do and not to do. Now, what will be the consequences if this stable coin (and its sister token Luna) fail completely? Will be there a systemic risk for many other alt coins, whether are called stable coins or not? Is there any truth to those who talk about an attack of big holders against small ones pushing them to sell? Investors' confidence now is very low. Any comment from you?