Stablecoin TerraUSD Announces Recovery Plan After Sharp Plunge

TerraUSD, also referred to as ‘UST’, slipped under its 1:1 peg to the greenback this week. TerraUSD, the so-called stablecoin which plunged in value this week, might be backed by reserves in future, its co-founder mentioned in a tweet on Wednesday, in an try to regular the cryptocurrency by adjusting its complicated pegging mechanism.