Terra’s UST drops 850 basis points against the dollar, loses peg
Exchanges halt withdrawals of UST as volatility continues. A sustained de-pegging event is now a concern

Tracking Terra’s collapse, ongoing legal fallout, and its impact on the broader digital asset landscape.
The algorithmic stablecoin TerraUSD (UST) has proven to be wildly successful, becoming the third largest in the market. This has changed the playing filed for all.
Koinly integrates Terra to provide easier reporting of cryptocurrency Luna, adding it’s long list of cryptocurrencies.
Terra’s UST trading volume pales significantly against its other rivals in the space.
Do Kwon's Luna Foundation Guard purchased a further $176 million worth of Bitcoin on April 10 for its UST reserves.
The tweets proceed to question whether LUNA is truly decentralized and if it is too reliant on Anchor Protocol.
Despite acquiring over 26,000 BTC over the last 30 days, Terra’s strategy to back UST with bitcoin couldn’t counterweight market sentiments over the U.S. Fed’s hawkish policy of hiking interest rates by 50 basis points.