By association. What do you think FTX is associated with? (It wasn't associated with traditional banking...)
By volume traditional banking had more fraud and mismanagement, but it hasn't had literally years of massive headlines. (See "rotten herring") And in the end it doesn't build any confidence, because all of our money is literally based in trust. Even the value of gold is plain trust in it's value(see Mansa Musa's gold devaluation "pre fiat currency").
I don't remember a single year, without some massive cryptocurrency related headline... Even SVB and CreditSuisse failures were managed out better, than FTX.
By volume traditional banking had more fraud and mismanagement, but it hasn't had literally years of massive headlines. (See "rotten herring") And in the end it doesn't build any confidence, because all of our money is literally based in trust. Even the value of gold is plain trust in it's value(see Mansa Musa's gold devaluation "pre fiat currency").
I don't remember a single year, without some massive cryptocurrency related headline... Even SVB and CreditSuisse failures were managed out better, than FTX.