https://www.vice.com/en_us/article/jgm7y4/multiple-crypto-stablecoins-not-so-stable-amid-market-crash

Crypto is crashing as Bitcoin, the largest cryptocurrency that leads the market’s price movements, is down 29 percent over the past week, with just about every other coin feeling the pain as well. Making matters worse, the Terra blockchain’s stablecoin UST—which as a stablecoin should always be $1—violently collapsed this week, trading for $0.60 as of this writing.

Stablecoins exist to bring some stability to the volatile crypto market, as their name implies. On Thursday, multiple stablecoins were feeling the pressure and either de-pegged entirely or wobbled both under and over their $1 peg.