After the bank runs of the 1930s during the US Great Depression, the US found it necessary to insure depositors’ funds.   This is why the Federal Deposit Insurance Corporation was founded in the United States in 1933.  And the Securities Investor Protection Corporation in 1970.  Crypto needs the same thing if we are going to have custodial institutions for crypto.   But we can easily keep our own keys, which ensures that our money is safe.