The comparison of SBF to JP Morgan is a fantastic example that people are still too bullish on crypto. Firstly, SBF is no where near as important to crypto as

The comparison of SBF to JP Morgan is a fantastic example that people are still too bullish on crypto. Firstly, SBF is no where near as important to crypto as JPM was to banking institutions. Secondly, crypto is a tiny tiny tiny asset class compared to the actual banks in 1907, Bitcoin's "market cap" is in the same order of magnitude as Apple's cash on hand, and the outflow of capital from crypto is massive for crypto but a drop in the ocean for real asset classes. Thirdly, even if, in some bizarro world SBF managed to stabilize the crypto companies, who actually cares? 1907 was about real peoples lives and life-savings. Let's assume that all these wobbling crypto companies survive. Will we look back on it like 1907? No - because it genuinely doesn't matter. This whole comparison sits on a pre-crash premise that the crypto space actually represented something of value. That it was some important thing.