Be careful where you store even your crypto funds next. Remember, exchanges also use banks to store funds

Those who are still celebrating a banking crash need to slow down a bit. Everyone will get hurt in a crash even crypto, though crypto will just be hurt less.

Remember that exchanges also use banks to store funds. This could be for things such as fiat-based self-insurance, employee pay, profits, short-term cash reserves, amenities and typical utilities etc. Exchanges also exist in the real world and run off fiat like most everything else does. But probably heir biggest achillies heel in all this is fiat withdrawals and deposits. All that fiat for these services must be stored somewhere, which has a 99% chance of being a bank. And it is highly unlikely these amounts accumulate to less than 250k in each account in the US, or whatever the insurance amount is in the appropriate jurisdiction. Even if it was, I doubt investors would enjoy having to wait for they payout from regulators with stuck funds in the meantime.

Pro tips:

• Stay away from fiat deposits and withdrawals. Even if solvent, who knows how long these would take. Try P2P instead, if you must.
• Stay away from fiat-quoted pairs/contracts. It may not have be particularly relevant prior but it certainly makes a difference now. For example, the pair BTC/USD is a fiat-quoted pair with USD as the quote currency. BTC/USDT is a fully crypto pair with Tether as the quote currency. This also applies to other fiat quote currencies like EUR, AUD and especially SEK(Swedisk Krona)
• If you can, probably avoid exchanges that use fiat-quoted pairs at all. Any exchange that lists fiat-quoted is at risk of losing funds. Ironically, this applies to many of the US exchanges which we typically view as safer, Although in the US the Fed,FDIC and reasury have done as much as they can short of a complete bailout but who knows how much it will help really struggling banks.
• I am not saying to go use these exchanges. But ironically there are smaller exchanges that deal solely in crypto pairs. These are ironically at much less rick due to bank failures. Although as per usual, watch out for rugpulls, frozen funds, hacks etc.
• Get an exit plan(s). This might be the most important thing here. No matter what, you should have always planned and prepared an escape route in case things go south ,. A different token, a different exchange, Defi to Cefi, Cefi to Defi, to an alternative bank/e-wallet, even the very last case of pulling it all back into fiat. Anything can happen