https://techcrunch.com/2022/05/11/terras-ust-crash-will-make-life-harder-for-crypto-as-regulation-looms/

Conversations in the crypto world have centered around stablecoins this week as their touted stability comes into question.

What was one of the largest stablecoins, TerraUSD (UST), fell from grace after it depegged from its $1 value on Monday and since dropped as much as 70% to $0.2998, when it was never supposed to deviate from the dollar-equivalent value. Its founder, Do Kwon, unveiled a plan to save its stablecoin, but concern from community members persists.