The development history of the Crypto Assets market is full of ups and downs. Let's take a look back at six significant events that not only shocked investors but also reshaped the entire industry's development trajectory.

1. The 2014 Mt. Gox exchange incident
As the largest Bitcoin trading platform in the world at the time, Mt. Gox suffered a severe security breach. Hackers successfully stole approximately 850,000 coins, equivalent to 7% of the total circulating supply at that time. This incident caused Bitcoin prices to plummet by 80%, and Mt. Gox ultimately declared bankruptcy. This was the first major trust crisis faced by the Crypto Assets industry, ringing alarm bells for investors.

2. In 2017, China's regulatory policies tightened.
In September 2017, the Chinese government announced a comprehensive ban on ICOs (Initial Coin Offerings) and the operation of cryptocurrency exchanges. This decision caused severe market turmoil, with the total market value of Crypto Assets evaporating by 80% in just a few days. Domestic exchanges were forced to quickly relocate their operations overseas. This event highlighted the significant impact of policy risks on the Crypto Assets market.

3. Market crash on March 12, 2020
Under the impact of the global pandemic, the price of Bitcoin plummeted from $7900 to $4300, a single-day drop of over 40%. Other crypto assets also suffered heavy losses. The market panic spread, leading to large-scale sell-offs, and many investors faced significant losses.

4. Market adjustment on May 19, 2021
As financial regulations tighten, the price of Bitcoin has dropped from $44,000 to $29,000, a decline of 34%. This adjustment has resulted in approximately 600,000 contract investors facing liquidation, once again highlighting the high-risk nature of the Crypto Assets market.

5. The collapse of the Terra/Luna ecosystem in 2022
The UST stablecoin decoupled from the US dollar, causing the price of Luna tokens to plummet from $100 to nearly zero. This event triggered a chain reaction in the decentralized finance (DeFi) sector, resulting in significant losses for many investors. This crisis exposed the potential risks of decentralized projects.

6. FTX Exchange Bankruptcy in 2022
The world's second largest crypto assets exchange, FTX, suddenly fell into a financial crisis and filed for bankruptcy protection, affecting the fund security of millions of users. This incident severely undermined the trust foundation of the entire industry, triggering widespread discussions about risk management in centralized exchanges.

These events clearly demonstrate the high-risk characteristics of the Crypto Assets market. They remind investors to remain vigilant and conduct thorough risk assessment and management. In this rapidly evolving field, asset security and risk control should always be top priorities. Despite the risks, these experiences have also driven the industry's maturation and the improvement of regulations, laying the foundation for healthy development in the future.