In May 2022, the algorithmic fiat-referenced cryptoasset TerraUSD deviated strongly from its peg after investors lost confidence in their ability to redeem their funds https://www.bankofcanada.ca/?p=229859 TerraUSD / USD 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.99 1.00 1.00 0.99 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.99 0.99 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.99 0.99 0.99 0.99 0.99 0.97 0.96 0.95 0.91 0.90 0.79 0.78 0.81 0.77 0.77 0.85 0.90 0.93 0.91 0.92 0.90 0.91 0.92 0.93 0.93 0.92 0.91 0.91 0.92 0.92 0.91 0.91 0.82 0.73 0.80 0.81 0.80 0.84 0.83 0.78 0.72 0.54 0.36 0.50 0.48 0.49 0.43 0.31 0.45 0.51 0.55 0.64 0.68 0.66 0.68 0.70 0.75 0.78 0.80 0.82 0.81 0.71 0.68 0.68 0.60 0.60 0.62 0.63 0.51 0.49 0.57 0.63 0.62 0.47 0.41 0.38 0.38 0.38 0.39 0.42 0.47 0.46 0.41 0.26 0.24 0.19 0.19 0.18 0.17 0.18 0.17 0.16 0.17 0.16 0.18 0.17 0.16 0.19 0.17 0.15 0.16 0.18 0.17