Ken Brown, financial editor at The Information, has cautioned that the current crypto winter could be more severe due to increasing ties between cryptocurrency and traditional finance. Brown pointed to speculative trading, corporate investments, and stablecoin exposure as factors creating a more interconnected financial system, potentially leading to broader market disruptions. He highlighted the recent sell-off in speculative tokens and the collapse of Silicon Valley Bank, which affected Circle, the issuer of USDC, as examples of the growing link between traditional and crypto markets. This 'new kind of winter' is expected to test the resilience of both systems amid ongoing volatility.