I disagree with several of the points you make. SBF and Elizabeth Holmes are dishonest people who are lied to investors and knowingly perpetuated fraud.

Crypto is complicated but so is economics. What good is charging taxes if global governments are hundreds of trillions of dollars in debt? Is it right that a small group of central bankers have so much power over the entire economy? I’m certain more people will be hurt via inflation than the crypto fallout.

The actor part is failed logic. They are all being paid for their celebrity status. When a famous person promotes an alcohol brand, it’s pretty widely accepted. But think of all the bad things that come from alcohol. Athletes promote fast food chains and people are dying from health related consequences of bad diets. What about famous people advertising for gambling?

Crypto will continue growing as it has because people believe in it. Yes, the current situation is setback, but it should make the asset class stronger.

Fiat exists because people believe in it. It will take the dissolution of belief and confidence to destroy either the fiat or crypto ecosystem.

I also find it interesting that banks routinely get fined for doing nefarious activities such as spoofing (manipulating) markets and dishonest behavior (see Wells Fargo). Don’t you think it’s a bit shady that as a saver you can deposit funds and banks loan it out for 10X the interest they pay you? Oh yeah, remember 2008?