Terra’s UST and LUNA Collapse: How the Crisis Unfolded

May 16, 2022

TerraUSD (UST), an algorithmic stablecoin that is supposed to stay pegged to the dollar collapsed over 90% over one week. Terra’s LUNA token that was used to maintain UST’s peg spiraled to $0. The devastating effects of the crash were felt across the crypto markets and many everyday people lost millions in investments and savings. Here is how UST and LUNA’s demise unfolded on CoinDesk TV.