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Comment by alexose | Hacker News Reader

Are you saying that regular, mainstream banks have enough crypto exposure that they're in actual trouble? If so, any particular ones that you think are at risk of failing?

(Apologies if this is a dumb question. I don't follow crypto news very closely.)

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My understanding is that banks have invested directly to some extent in the safer end of crypto (Bitcoin) and indirectly on more risky stuff, through funding crypto hedge funds and the like.

I don't have any sources that I trust at hand, but a quick Google search shows aggregated data about investment banks and the assets they hold on the crypto economy: https://www.blockdata.tech/blog/general/top-banks-investing-...

For better or for worse, it doesn't seem big enough of an investment to actually bring down traditional banking.

I follow pretty closely and have not seen any evidence or heard any rumors that there are any reputable banks with significant direct exposure. Many of the banks that might fall would be ones whose primary customers are people in the crypto space but really its all shrouded in mystery. VC firms and PE, on the other hand, are probably going to see a lot of bloodshed

Not sure if any US banks got so far as legitimizing crypto.

There was a big lobbying push to fool representatives into making the ponzi circus legit.

But then FTX suddenly disappeared below the waves, so I think that's on hold right now.

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