Did you miss the recent convictions of SBF and CZ? How about 3 guys recently charged in a $1.89 billion fraud case? Or the guy recently convicted of $300 million in a securities fraud case for running bots to manipulate a cryptocurrency's price?
Maybe this will help explain things a little better. I'm pretty sure I posted a link to this back when the crypto collapse was beginning (though can't find the post), but the ultimate problem with Bitcoin is that it is a negative-sum ecosystem:
Because Bitcoin has no actual inherent value and it is a negative-sum game, those who hold a lot of Bitcoin have to constantly lie about its value to bring in new suckers. Basically, every normal American who thinks they're just getting into another investment similar to stock in a publicly traded company is the mark at a poker table sitting down to play with nothing but sharks and who is bound, sooner or later, to lose everything they've bought in with. If you're lucky, that shark is just some asshole who wash traded his shares to falsely inflate their value by a few thousand percent. If you're unlucky, you end up accidentally helping some asshole monetize his distribution of child sexual abuse material or his literal kidnapping and enslavement of people in places like Cambodia.