In recent years, the cryptocurrency market has experienced several major events that have had a profound impact on the entire industry. On May 19, 2021, Chinese regulatory authorities jointly issued a document prohibiting relevant institutions from engaging in virtual money business. This move led to a drastic fluctuation in Bitcoin prices on that day, plummeting from $42,000 to $29,000, and then rebounding to $37,000. This price shock resulted in approximately 600,000 investors getting liquidated, with total losses reaching up to $7 billion, becoming a catastrophic experience for many investors.

In May 2022, the cryptocurrency market was once again hit hard. The Luna coin of the Terra ecosystem and the UST stablecoin suddenly collapsed, causing Luna's market value to evaporate from 40 billion USD to nearly zero in an instant. This event not only led to Bitcoin's price dropping from 40,000 USD to 30,000 USD but also triggered a chain reaction. In June that followed, the well-known cryptocurrency investment firm Three Arrows Capital announced bankruptcy, further pushing Bitcoin's price down to 10,000 USD.

In November 2022, the crypto assets industry fell into crisis once again. The world's second-largest crypto assets exchange FTX exposed serious financial issues, triggering a massive withdrawal of funds by users. This bank run ultimately led to FTX declaring bankruptcy, and its founder Sam Bankman-Fried was arrested and imprisoned. This incident caused the price of Bitcoin to fall to $15,000, severely damaging the trust foundation of the entire crypto assets market.

These events highlight the high risk and instability of the crypto assets market. Changes in regulatory policies, the collapse of ecosystems, and the bankruptcy of large exchanges can all have a significant impact on the market. Investors need to be particularly cautious when entering this field, fully aware of the risks involved. At the same time, these events have also prompted the industry's demand for a more robust regulatory system and risk management mechanisms, in hopes of establishing a more stable and reliable crypto assets market in the future.