This sounds like a classic run on a bank.
OK, help me here. In a classic run on a bank, people are lined up to get “their” money, but the bank doesn’t have “their” money down in the basement somewhere because it’s been loaned out to other people to buy houses or refurbish a factory or whatever.
Is crypto being loaned to people to other things with? And if so, what? I thought the thing about crypto was that there was a set amount, doo dah, doo dah, and what you had was confirmed by this infinitely large ledger kept on servers all over the world so there could never be more than actually existed (unlike fiat currency which can be infinitely loaned out and thereby multiplied).
Which class did I miss where this was discussed? Do I need to watch an updated version of “it’s a Crypto Life” with Tom Hanks and Bozo the Clown? What?