[Agency Delegation, Inducement, and Survival: A Study on Herding Effects and Incentive Misalignment in the Cryptocurrency Market] CoinBay Research Institute In-Depth Study — From LIBRA's 40-Minute Surge and Plunge to FTX's $12.7 Billion Collapse — A Three-Layer Nested Framework of Information Cascade, Principal-Agent Issues, and Information Asymmetry, Providing a Unified Explanation for Systematic Value Transfers Repeatedly Observed in the Crypto Market Over Nine Years.