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The Petro Dollar \u0026 The Rise Of Commodity Backed CurrenciesStablecoins are digital currencies that are usually backed by a fiat currency like USD or physical assets like gold. A commodity-backed stablecoin is a cryptocurrency whose value is backed by some tangible asset, such as gold. For example, Paxos Gold (PAXG) is. Bitcoin rose 12% in June as other cryptos sectors' fell, influenced by a new legislation proposal, SEC lawsuits against exchanges.