Does the cryptocurrency crash pose a threat to the financial system?

[{"selector":"#anim-5fbf041f-5c16-4377-8ae6-8fea866c31c4","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c8d07dbc-4cc6-46ce-af1a-53fea09d532d","keyframes":{"transform":["translate3d(0px, -155.05431%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-13bb6c9e-ebee-4c59-acc3-1ba744aa092e","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0ae9a16c-95bc-47d6-9361-779e861f18fe","keyframes":{"transform":["translate3d(0px, -134.06084%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f16aa318-2253-4ff9-bfff-9825bdbc3990 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Does the cryptocurrency crash pose a threat to the financial system?

[{"selector":"#anim-1d50b22d-8f86-482c-bdac-8a5137317ff8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-9e235a21-13e9-419d-a9e4-ea4496d6b075","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e7ffce49-2657-46ee-9baa-edb88f4889cc","keyframes":{"transform":["translate3d(0px, -134.06084%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2d1dcaff-34cb-4d23-ba4c-7b419e6f9265","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4d184930-5b0e-451c-93d9-c3c7730e2da0","keyframes":{"transform":["translate3d(0px, -146.14861%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] On Tuesday, Bitcoin fell briefly below $30,000 for the first time in 10 months, while cryptocurrencies overall have lost nearly $800 billion in market value in the past month

[{"selector":"#anim-25ad5522-0b78-436f-9310-f029e5ac6e69 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-a9a4a6e4-3c37-4093-8812-55fcba59cccd","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dd0c0382-9dec-449d-b66b-1c8c1644a82d","keyframes":{"transform":["translate3d(0px, -134.06084%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-45eba9c0-8208-4761-a8ed-52dfec143b88","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1db494f4-a9ec-4296-aa81-cc317ff56adf","keyframes":{"transform":["translate3d(0px, -171.13011%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] In November, the most popular cryptocurrency, bitcoin, hit an all-time high of more than $68,000, pushing the value of the crypto market to $3 trillion

[{"selector":"#anim-60c947ab-6f55-419d-9226-6a3ff84fe6f6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-caccbba3-8733-43a2-b069-06585e472a68","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e9f031e3-68cc-4a90-ba35-3906ca6f4292","keyframes":{"transform":["translate3d(0px, -134.06084%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5da04d9b-813a-4a7c-8832-6c2e25833dd4","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8e4c1b47-e476-4cc4-af9d-55c0448544a3","keyframes":{"transform":["translate3d(0px, -357.00469%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] That figure was $1.51 trillion on Tuesday.

[{"selector":"#anim-44451214-9f14-4b81-b4b5-ac02b6958e58 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-98004b00-feba-4246-89de-c199ce75fd7d","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fe5b5d38-a912-48e6-893f-4663f7e00f74","keyframes":{"transform":["translate3d(0px, -134.06084%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4188381e-619f-46f7-87ae-78fc2f3ea678","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-17241bbe-987f-4d39-a730-936cee96fb6f","keyframes":{"transform":["translate3d(0px, -199.18131%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] COULD A CRYPTO CRASH HURT THE FINANCIAL SYSTEM?

[{"selector":"#anim-705a306a-0340-4d4b-8fe1-3eb673918697 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-4efc47f4-c6b4-4467-8328-74111ce6d61f","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9740e4e0-2486-49d4-863f-c65dcdd6c69e","keyframes":{"transform":["translate3d(0px, -134.06084%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-05ea7905-08a3-46ca-9a7e-807647297469","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f9d79c3d-394a-4d97-a977-4776190fe05e","keyframes":{"transform":["translate3d(0px, -159.54861%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Coinbase, the world's largest cryptocurrency exchange, said institutional and retail investors each accounted for about 50% of the assets on its platform in the fourth quarter

[{"selector":"#anim-2399ad02-ad2b-4b35-bb24-5982ae84ab56 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-026fbeef-4ea7-41c1-8a71-5120b2a94606","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f7201421-07f9-46c8-9829-43fcbeef9105","keyframes":{"transform":["translate3d(0px, -134.06084%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0b28cde3-9ab3-48ad-9c45-451175a3c0c1","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f324c0fd-9f37-4f59-9fcb-86beb3f91a6b","keyframes":{"transform":["translate3d(0px, -213.04907%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Its institutional clients traded $1.14 trillion in crypto in 2021, up from just $120 billion in 2020, Coinbase said.

[{"selector":"#anim-88f26997-f0b4-4d2a-8b75-52a57a1c1eea [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-ac6d0df0-1d88-428e-abfa-d4b311db9c82","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bcdf76c8-b317-4a46-9b74-aaf8e29de2a7","keyframes":{"transform":["translate3d(0px, -134.06084%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-978631e1-e0b8-4a86-b0f3-cfe572adfdf9","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1ef04816-62ba-43d8-9510-4e8746331d07","keyframes":{"transform":["translate3d(0px, -213.04907%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Approximately 14% of Americans were invested in digital assets as of 2021, according to University of Chicago research.

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[{"selector":"#anim-379d625e-e7d5-430f-8468-cbde2cdae92f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-f9cce353-a0f4-4d0d-a82a-1b08b7d198ae","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b7fab432-8c6d-45df-94ed-99482a67ae08","keyframes":{"transform":["translate3d(0px, -134.06084%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f2717a0c-2bfe-4324-9235-67a6b6716346","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-086c5236-30ca-4466-b546-f9d2c3c8ee2e","keyframes":{"transform":["translate3d(0px, -374.93536%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] That move partly contributed to bitcoin's fall.

[{"selector":"#anim-ed9e769e-f8bc-4425-9ae1-e47d1c8ca3e0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-6.479389639052268%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-d4219af0-9792-4480-91c9-701df4d8b21f","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3ba7f981-b595-40c3-8057-a02c8029a6d0","keyframes":{"transform":["translate3d(0px, -329.2989%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-861cff84-b63c-466d-b7bf-44fba3b8400f","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2d6a7aff-f9b8-40fd-a7b0-18c17ac5b1cf","keyframes":{"transform":["translate3d(0px, -594.4444%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] regulators overall are divided on the size of the threat a crypto crash poses to the financial system and broader economy.