Anyone remember this circa 2007-2009? The real estate bubble burst. Financial Institutions collapsed. IIRC the Federal Reserve had to "create" billions of $$$ that was used to bail out banks, auto manufacturers, etc. If regulatory guardrails aren't built around crypto, will history rhyme again? Could crypto be the straw that breaks Uncle Sam's back?
From WIKI: The subprime mortgage crisis led to the collapse of the United States housing bubble. Falling housing-related assets contributed to the 2008 financial crisis, even as oil and food prices soared. The crisis led to the failure or collapse of many of the United States' largest financial institutions: Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers, and AIG, as well as a crisis in the automobile industry. The government responded with an unprecedented $700 billion bank bailout and $787 billion fiscal stimulus package.