The Day UST Collapsed
Is the Terra Luna collapse the biggest disaster in cryptocurrency history?
4 min readMay 15, 2022
On the 9th of May, the stablecoin UST has fallen off its 1 to 1 dollar peg and has since crashed to 18 cents as of writing this story. Even worse is the collapse of its sister coin Luna, which is normally supposed to stabilize the price of UST. It has basically lost all of its value when it fell from…