You could also have your spouse do 5 minutes of research and not have them put your money at a bank that was always clearly a scam.
There's trustworthy crypto banks, they just don't offer interest. If you think you need interest on your crypto you've already lost the plot somewhere. Maybe it was when you took financial advice from a super model and a football player.
The thing that's not trustworthy is the financial industry. Crypto is just their latest tool. Before it was mortgage backed securities, and before that penny stocks.
> There's trustworthy crypto banks, they just don't offer interest. If you think you need interest on your crypto you've already lost the plot somewhere.
That's sort of the whole point encapsulated, isn't it? Most of the popular interest is in crypto as a supposed investment! There are trustworthy investments that offer interest - they're just not crypto investments, as you say. That's a pretty big difference between the traditional finance industry and crypto, without even getting into the question of regulatory oversight. The idea that "everyone is just getting crypto wrong" is what I meant by a motte-and-bailey view; you can hold it just so long as you view the vast majority of what goes on in crypto spaces as basically illegitimate.
But it isn't the vast majority as far as I know. Most people I know have their crypto on Coinbase or Kraken or Bitstamp, or they've invested in a hardware wallet.
I don't know how succesful FTX's marketing was, did they really convince the average American to buy their crypto there? I hadn't even heard of FTX until they named a stadium.
Not everyone gets crypto wrong, just the people who got duped. Maybe I'm underestimating how many those are, I'm not an American and never met anyone who had assets at FTX.
There's trustworthy crypto banks, they just don't offer interest. If you think you need interest on your crypto you've already lost the plot somewhere. Maybe it was when you took financial advice from a super model and a football player.
The thing that's not trustworthy is the financial industry. Crypto is just their latest tool. Before it was mortgage backed securities, and before that penny stocks.