The Terra network and its founder, Do Kwon, experienced a rapid rise and fall in the crypto world. In May 2022, the price of the algorithmic stablecoin UST, which is designed to maintain a $1 peg, began to fluctuate and eventually plummeted to 35 cents. This caused its companion token, LUNA, which was meant to stabilize UST’s price, to also drop from $80 to just a few cents. The collapse of these tokens sent shockwaves throughout the crypto sector and contributed to a prolonged period of decline known as the crypto winter.

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Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	1
People	Do Kwon
Companies	Terra network, Do Kwon
Currencies	TerraUSD, Terra Luna Classic
Securities	None