That doesn't necessarily follow to me. When an average company goes bankrupt, people just lose their money. I believe federal intervention is when there is systemic risk (or major criminal actions). I've been learning from this thread but it doesn't seem to be systemic. It's not going to take down a bunch of real world banks, crypto market cap was less than $1T. If I own bank stock or whatever in my 401k, it's on me if it dies, crypto would be the same.