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The Mad Money host made the comment in response to whether recent distresses to traditional banks offer an investment case for Bitcoin.
Dorian Batycka 2 min read 
Bitcoin investors appeared to be taking profit as the market witnessed the largest sell pressure of over $500 million.
Former members of Terraform Labs Pte. Ltd. have been questioned by the FBI and the Southern District of New York.
"The financial system needs to be updated. It's slow, it's archaic," Armstrong told Bankless.
This marked the largest weekly outflow, which represents 1% of the market, while Bitcoin-based products saw $224 million in outflows.
Bankrupt crypto exchange FTX's crypto portfolio rose by roughly $63 million, according to Arkham Intelligence dashboard.
Binance CEO hints at possible bank acquisitions amid crypto-friendly banks facing severe distress and failures.
The embattled Tesla and Twitter CEO made the comments in response to a Tweet suggesting he should take over the distressed bank.
As crypto banks like Silvergate face increasing pressure, is it regulators themselves putting pressure on banks to putatively ignore crypto?
