Crypto boom and bust would tell upon on the real-world financial markets. There is rapid expansion of cryptos and fintech. DeFi platforms offer decent returns to investors, who invest in some of these startups. There are no banking intermediaries here. Crypto mania touches the real economy at fast speed. There could be losses which could lead to the next subprime crisis. Crypto ownership is U-shaped. It is likely that top and bottom-income households own cryptos. Their links with the financial system are growing. The investor community is guided by the maxim of dipping the toes. There are DeFi loans and there are stablecoins. There could be demands of redemption for which assets would be sold. If managed algorithmically, there could be spillover effects. The effects are not confined to crypto universe but spill over to the real economy. These activities would be highlighted by regulatory focus. DEFI lending could be supervised by big centralised funds.