Crypto Bank Run Cost Billions: Fed Advisor Rose

The video discusses the rapid collapse of several crypto firms in 2022, including Celsius, Voyager, and FTX. It highlights the financial crisis caused by massive outflows and the lack of investor protection due to regulatory lapses. The discussion also covers the impact on traditional financial systems and the challenges in assessing the regional impact on investors.

Which firms were highlighted as having collapsed during the crypto run of 2022?

• Ripple, Ethereum, and Bitcoin

• Coinbase, Binance, and Kraken

• Gemini, Polkadot, and Cardano

• Celsius, Voyager, and FTX

What was the most severe asset loss experienced by Voyager Digital?

• 50% of their assets

• 10% of their assets

• 36% of their assets

• 25% of their assets

What regulatory issue was most significant for the crypto firms studied?

• Securities laws

• Labor laws

• Tax evasion

• Environmental regulations

What behavior can lead to run behavior in financial institutions?

• Low inflation

• Acts of fraud

• Stable currency

• High interest rates

What was a common marketing strategy used by Celsius and Voyager?

• Providing free financial advice

• Offering low-interest loans

• Encouraging customers to distrust banks

• Promoting high-risk investments

Which banks were mentioned as being important for serving crypto asset customers?

• HSBC and Barclays

• Bank of America and Wells Fargo

• JPMorgan and Goldman Sachs

• Silvergate and Signature

What challenge do regulators face regarding US investors and international platforms?

• Tracking tax compliance

• Ensuring data privacy

• Preventing VPN usage

• Monitoring cross-border investments