The Terra blockchain was halted for almost two hours today amid widespread turmoil in the cryptocurrency market, with investors challenging the presumed 1-to-1 pegs that underpin stablecoins.
- Driving the news: The blockchain runs the algorithmic stablecoin Terra USD, alongside its partner Luna, the governance token. Both coins have crashed in a dramatic fashion in the last few days, while another called Tether has also come under pressure.
