Cash is flooding out of Coinbase already. Be interesting to see what happens when they run out and can't raise any more, and people with their crypto on the pl

Cash is flooding out of Coinbase already. Be interesting to see what happens when they run out and can't raise any more, and people with their crypto on the platform become unsecured creditors in a bankruptcy. Another way to look at crypto is a banking system with no lender of last resort or controls like FDIC to prevent a systemic bank panic. The only real hope that the crypto system has is that billionaires who are still True Believers will step in to serve as lenders of last resort and buy it all up on a firesale, but if they instead don't choose to catch a falling knife it'll just fall. The crypto system as a whole has never yet had to survive a high interest rate sustained collapse of the external economic environment yet. The 2020 pandemic wasn't really a test because everything got immediately bailed out. Concretely, if Tesla is pretty screwed because nobody has money to buy cars any more and everyone is out of work, will someone like Musk toss cash at crypto to save it or not?