The Bank of England sent a clear warning:
Sam Woods, the Bank of England deputy governor responsible for financial supervision said that in their short history, crypto-assets have exhibited high price volatility and relative illiquidity.
Writing in a letter to the chief executives of banks and insurers he said: "Crypto-assets also raise concerns related to misconduct and market integrity many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.
https://www.express.co.uk/finance/city/981330/Bitcoin-price-barclays-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-newsTo people like us that have been in this market for some time, this is no news since we know this is the case, there is high volatility and there are some projects that seem suspicious but like always instead of accepting this as the current nature of the market the banks warn of this as if this is a unique feature of this market, if I remember correctly the crisis in 2008 was caused by the derivatives bubble which was many times worse than the market we have.