It's completely wrong. 2008 didn't come from a run on the bank, it came from a collapse in value of assets used as collateral for other assets, triggering wides

It's completely wrong. 2008 didn't come from a run on the bank, it came from a collapse in value of assets used as collateral for other assets, triggering widespread bankruptcy, triggering collapses in assets backed by the loans written off in those bankruptcies, triggering more bankruptcy by owners of those assets, triggering collapses in assets backed by loans those institutions had... You get the point. Deposits were totally irrelevant. Investments were overleveraged across the board. Banking crises can come from any form of leverage. It doesn't matter what the original collateral is, whether it's deposits or private investment. All you need is for losses to exceed collateral at a large scale. In 2008, this came from a chain reaction, which is the main point of broad limits on leverage, and that risk absolutely applies to fintech.