Crypto bros are quite literally becoming bankless and unbankable. By abruptly bundling crypto-friendly Signature Bank — one of the last of its kind — into receivership amid an extraordinary weekend operation to backstop the U.S. banking system, regulators are sending a message that volatile tokens and decentralized finance need to be kept far away from TradFi. Given echoes of the global financial crisis and with market jitters spreading around the world, that’s no bad thing.

Lionel Laurent is a Bloomberg columnist covering digital currencies.

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