The recent failures of three U.S. banks have raised questions about the role of crypto in the American financial system. Here’s what we know from a crypto perspective: Crypto did not cause the recent bank failures. Banks need diversity in depositors and clients, just like businesses need diversity in banking partners. Specialization by banks is critical to spurring innovation, but excessive concentration in any industry sector brings risks that should always be managed carefully. Allowing bank supervision to be influenced by political favoritism, or by discrimination against specific industries like crypto, undermines supervisory discipline and creates an uneven distribution of risks. Rather than prohibit safe crypto activities, regulators should focus on addressing risks in the system and ensuring that banks engage in effective risk management. Regulatory policy decisions should be made in the daylight with proper rulemaking, not in closed door meetings that lead to conflicting statements and inconsistent supervision. The world still relies on the U.S. dollar, and crypto makes it stronger. Crypto can help make the financial system better, faster, cheaper. Systemic risk doesnt happen overnight. Crypto is a $1 trillion industry that is here for good, and the rest of the world is moving to regulate it.