But of course it’s not deus ex machina crypto, which would seem to be in philosophical tension with the decentralization goals of many in the blockchain and crypto industry. Ultimately, even though crypto and traditional banking appear to compete in financial services, they live in fundamentally different realities. After the Terra and FTX collapses, there was no Superman to swoop in and undo the catastrophic consequences.
The collapse of US banking does not necessarily make cryptocurrencies credible
