The Block Research Director: Rumors of $2 Billion from Jump, Alameda, and Others to Bail Out $UST

Director of Research at The Block Larry Cermak tweeted, "There is a rumor spreading about Jump, Alameda, etc. providing another $2B to 'bail out' UST. Whether this rumor is true or not, it makes perfect sense for them to spread. The biggest problem here is that even if they can get $UST back to $1 by some miracle, the trust is irreversibly gone. Personally, I think the only way to save it now is by fully (or probably very close to fully) collateralizing. Otherwise I don't see it being used again."