??? banks hold real life assets, that can be resold, like mortgages or loans to credit-worthy people. they also have access to central banks, and other big ba

??? banks hold real life assets, that can be resold, like mortgages or loans to credit-worthy people. they also have access to central banks, and other big banks who might recapitalise them if they have bad luck. FTX had a bundle of funbacks, which it had also printed, and are of no intrinsic worth. of course the liquidity and reserve requirements are different.