> It is striking to me that the crypto community is re-enacting a classical bank run in a "decentralized" system where such a thing wasn't supposed to happen.
A bank run can only happen with fractional reserve system. An exchange that keeps a 1:1 ratio of assets is not exposed to a bank run. Fiat banks on the other hand are by definition exposed to it.
A bank run can only happen with fractional reserve system. An exchange that keeps a 1:1 ratio of assets is not exposed to a bank run. Fiat banks on the other hand are by definition exposed to it.