When a bank fails, it gets put into receivership and you get (some of) your money back. There's enormous protection working in your favor provided by the FDIC.

When a bank fails, it gets put into receivership and you get (some of) your money back. There's enormous protection working in your favor provided by the FDIC. When a crypto token enters free-fall, there's no one to stop the market, and no one to help you get your money back. It's gone.