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Couldn't find the answer on Google. What's an XIV moment? I know it's something bad but what's the origin of the phrase.

I didn’t know the reference either, but maybe this article explains the event: https://towardsdatascience.com/the-xiv-meltdown-1b0608110b9f

It's a VIX inverse ETN that collapsed a few years ago. Lot of people got burned.