The Lehman Brothers incident is just mortgage loans plus leverage?

The former chief of staff of the SEC shocked everyone: 'Crypto liquid staking is Lehman 2.0!' This key regulatory figure who experienced the 2008 financial tsunami has for the first time linked DeFi staking agreements with the most severe collapse event in human history. The market instantly voted with its feet: Ethereum plummeted 12%, and leading staking platform Lido evaporated $1.5 billion in TVL in a single day! Panic spread like a domino effect; is the regulatory winter really here?

Three major triggers for a Lehman-style collapse
Leverage nesting death spiral: Behind the 22% staking rate of ETH, re-staking agreements like EigenLayer have formed a leverage chain of 'staking - re-staking - derivatives', similar to the Lehman CDO structure;