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Yeah, the UK had a bank run (Northern Rock) during the financial crisis in 2007. Once confidence was lost, some of the run was people with more money than our i
by pmyteh 4y ago
Yeah, the UK had a bank run (Northern Rock) during the financial crisis in 2007. Once confidence was lost, some of the run was people with more money than our insurance limit in there, the rest ordinary small depositors who didn't feel like trusting an untested insurance mechanism when they could have banknotes.
That run was stopped by the government guaranteeing all assets and nationalising the Rock. That's not likely to happen with crypto.