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Terraform Again Halts Blockchain Behind UST Stablecoin, Luna

  • Halt comes as UST stablecoin and related token Luna go to zero
  • Terra developers had earlier stopped and restarted blockchain
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WATCH: BTC Markets’ Caroline Bowler discusses the implosion of the TerraUSD stablecoin.Source: Bloomberg
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The blockchain behind the collapsed TerraUSD stablecoin and the affiliated Luna token stopped processing new transactions for the second time in less than a day.

Terraform Labs said in a tweet from its verified Twitter account that validators, the entities responsible for verifying transactions on the blockchain, had taken the step to “come up with a plan to reconstitute” the Terra network.