But commercial banks are not investing billions of dollars in high risk crypto assets so I don't see how crypto hype can cause financial meltdown except small

But commercial banks are not investing billions of dollars in high risk crypto assets so I don't see how crypto hype can cause financial meltdown except small number of big private investors losing a lot of money in crypto because they got nothing better to invest in other than overblown and hyped crypto coins, tokens and DeFi platforms(Andreessen Horowitz comes to mind). Speaking of retail investors they are not the problem because your average crypto investor doesn't care about losing couple of thousands of dollars investing in some pump and dump crypto stuff .