That's the regulation I mentioned. I don't know these banks but would guess it's because they were insured. In the US and the EU all banks have to be insured to a degree. That's not necessarily true elsewhere, people around the world regularly do lose money in bank defaults. And entire countries can go bankrupt too, because the system ultimately has no failsafe. People in more stable countries like to dismiss that but depending on where you're from you can find examples of the entire nation losing practically everything only a few decades ago.

Of course you could do the same with companies like Celsius and insure and regulate them better, but in the end customers are paying for it, it doesn't come free. Also big banks do still fail, are you aware how much money has been paid for bank bailouts just in the past decades? The thing is many don't notice they're paying for it, because they don't understand where the money comes from.

My argument is that Celsius would never have gotten as big if the customers knew what happens with their money. This business model shouldn't even be legal, same as what many more traditional banks are involved in. In fact, often it isn't legal in the first place even according to current regulation. But once they get to a certain size, laws don't apply to them as they apply to the rest of us. This is a problem, regulation is clearly not working properly in the banking sector.

> Wachovia and Washington Mutual essentially failed in 2008 and no one lost anything

Account holders shouldn't have lost (haven't checked) but the stock evaporated overnight, so anyone holding any shares lost everything in a blink.

I had around $47,000 in Wachovia in 2008. I was a Wachovia customer since 1991. I didn't lose a penny. Wells Fargo bought Wachovia and over the next year they automatically transitioned us to Wells Fargo accounts with the same login/password, account numbers, and my account balance. I'm still with Wells Fargo 14 years later and everything is fine.