Terra's UST (UST-USD) algorithmic stablecoin lost its peg. UST was designed to be at a $1 value but crashed to $0.13. Terra's governance token LUNA, now Luna Classic (LUNC-USD), also fell by 99.9%.

“The old UST course worked very well in the environment for which it was developed. But the environment has changed,” said Col. Michael C. Todd, Chief of Training Weapons and Tactics Division ...