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Crypto world stabilizes after rocky week shakes stablecoins, article with videoFuture of Money · May 13, 2022 · 10:36 PM UTC
Cryptocurrencies steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called stablecoin.
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TerraUSD, the so-called stablecoin which plunged in price this week, will be backed by reserves in future, its co-founder said in a tweet on Wednesday, in an attempt to steady the cryptocurrency by adjusting its complex pegging mechanism.