It’s unlikely ever to be a 2008 like event. Mortgages were considered safe investments so banks leveraged to invest.

No credible bank is going to leverage to speculate on crypto. They might create products to let their customers do it, but they’ll make sure their books have little exposure.

They are selling shovels; not panning for gold.

Unfortunately, it's even worse on some exchanges that offer up to 125x leverage to people who might not even understand what they're doing properly. That's why you see flash crashes every once in a while, couple weeks back there was billions of dollars liquidated.