The Fall of Terra USD

This chapter recounts the dramatic collapse of Terra USD and the subsequent chaos in the cryptocurrency market, resulting in an $18 billion loss and the plummeting value of major digital assets like Luna. Tension mounts as the instability of this once-stable coin raises alarms among investors and regulators alike, echoing the impact of the 2008 financial crisis. The chapter explores the rapid evolution of the crypto landscape, revealing the challenges faced by industry insiders and journalists in understanding its complexities amid such turmoil.