Chronicles of Market Turbulence: Reflecting on the Cryptocurrency Industry's Past

2025/05/30 10:00 (Updated 2026/06/04 14:20)

Editors of Iolite

Written by Noriaki Yagi

Table of Contents

Will the market, polished by a series of failures, shine like a gem or become rounded and smooth?
Chapter 1: The Day the World's Trust Crumbled—The Mt. Gox Incident (2014)
Chapter 2: The Night the Formulas Failed—The Terra/LUNA Shock (2022)
Chapter 3: The Illusion of Charisma—The Collapse of FTX (2022)
Chapter 4: Market Distortions Lie Within Us—Hacking, Surges, and Crowd Psychology
Chapter 5: The Breached Wall of Trust—The Bybit Hack (2025)
Chapter 6: The Ripple Effects of Whales—The Massive Short on Hyperliquid (2025)
Final Chapter: The Fine Line Between Regulation and Hope

Will the market, polished by a series of failures, shine like a gem or become rounded and smooth?

The cryptocurrency market can often be said to have evolved through incidents. The birth and expansion of a new financial ecosystem. Behind this, there have been numerous collapses and chaos. These were not just mere hacking or investment frauds; they also served as opportunities to question societal systems, global finance, and the limits of technology.

This article will discuss significant events that have greatly shaken the cryptocurrency domain, interpreting each shock in the context of its era.

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Chronicles of Market Turbulence: Reflecting on the Cryptocurrency Industry's Past

Will the market, polished by a series of failures, shine like a gem or become rounded and smooth?

Iolite Vol.21

Iolite Vol.21