Oh? Correct me if I’m wrong, but it seems all the ways of preventing Wall St. from becoming over leveraged fundamentally depend on regulation, which is vulnerable to lobbying and political capture. That’s happened twice now - dismantling of Glass-Steagal after the Great Depression, and dismantling of Dodd-Frank after the GFC. The former took decades, the latter was done in just ten years.

My point is, crypto may represent a permanent and deterministic solution this problem, implemented at the protocol/infrastructure level, and which is difficult or impossible to corrupt via lobbying and political capture.