How Far Back Can You Go to Trace This Crisis?

A decade of zero interest rates from the federal reserve created this huge flood of liquidity into tech broadly and crypto in particular. When deposits went down, what the banks need to do is sell their assets. Their assets were longer dated bonds that they had bought. They are now selling those bonds when interest rates are high. The banks look like they're insolvent. Peter Thiel starts a bank run and the rest is history.