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TerraUSD Stablecoin Plunges as Crypto Market Awaits Rescue

  • Stablecoin crashes further from its intended dollar peg
  • Wider crypto markets holding up with Bitcoin little changed
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WATCH: What are the implications of an algorithmic stablecoins like Terra dropping below their peg value?Source: Bloomberg
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TerraUSD, the controversial algorithmic stablecoin, slumped on Wednesday as crypto markets await a rescue led by primary backer Do Kwon.