This article explores why cryptocurrency, despite its innovative spirit, is vulnerable to crises. Unlike traditional finance, crypto lacks clear regulations, central oversight, or established protocols for responding to emergencies. The result is a chaotic system prone to rapid spread of misinformation and unpredictable reactions. 2021’s Terra collapse and the FTX implosion serve as stark reminders of this vulnerability. The absence of effective crisis management strategies can exacerbate financial losses and damage trust in the entire ecosystem. This necessitates proactive measures like developing a detailed crisis plan, establishing clear lines of communication, and ensuring public accountability. 2023’s crypto winter will test these principles and highlight the need for robust protocols to navigate unforeseen challenges. It emphasizes a ‘crisis playbooks’, not just whitepapers, are crucial for navigating future crises.