Why did Terra USD collapse?

Can you explain the reasons behind the collapse of Terra USD? Was it due to the algorithmic stablecoin's flawed design, or was it a case of mismanagement and a lack of oversight? Did the market conditions contribute to its downfall, or were there other factors at play? How did the collapse impact investors and the cryptocurrency market as a whole? What lessons can be learned from this incident, and what measures can be taken to prevent similar collapses in the future?