Two decades have passed since the 2008 financial crisis nearly destroyed AIG. Back then, the insurance giant's near-collapse triggered government bailout and sent shockwaves across global markets. Now, as AIG inches back into risk-taking mode, it raises an interesting question: are we truly learning from history, or just repeating it?

The irony isn't lost on anyone watching crypto markets. Traditional finance keeps finding new ways to lever up and push boundaries. When institutions like AIG start regaining appetite for complex bets, it often signals the market's collective amnesia about systemic risk. Real assets, digital assets—the patterns rhyme across decades.

For Web3 participants paying attention, this behavioral cycle offers a crucial lesson. Whether it's traditional finance or decentralized protocols, risk appetite follows predictable waves. Understanding these macro-economic tides helps inform better portfolio decisions and timing strategies. History may not repeat, but it sure does echo.