Crypto is gypto. So is bitcoin. Your money does not have to be backed by anything. It is all a matter of what is being used by everyone and you cannot force your way into a banking market the way some are trying to do.

I usually like his stuff, but this piece was clearly intended to keep the inexperienced away from the stuff. It was a bit like someone saying you shouldn't drive because um....traffic safety, and Takata air bags and pintos. Oliver lumped anything and everything associated with crypto in with Jim Cramer, Sam Bankman-Fried, and CEOs of a couple lesser known coins. He obviously enjoyed some of the names for smaller coins, but didn't even mention bitcoin, etherium, or some of the more mainstream stable coins like tether or usdc. Yeah, there are a lot of scammers out there in the cryptosphere, but then snake oil was around long before cryptocurrencies.

A fool and his fake money are soon parted.