At least he's honest about the fact that most people are just hyped because they've heard the success stories and see the gains. Rofl if someone spent everything they had on Ripple at the peak...
Good point on money rushing in before innovation. Too much money kind of stifles innovation, considering teams and devs are supposedly hungrier and more energized when they're trying to make it to a finish line and a payout. If the payout is handed to them without any expectations of real developments... then you tend to see what we've seen so often in crypto, idle projects and bags of money sitting around without any repo changes to speak of.
I'm in the camp of thinking that the US is actually allowing the Tether fiasco to continue for so long because they know it's helping to destabilize other nations' currencies.
The way he completely changes his speech and really has to give himself some pause when he's talking about coordinated efforts by governments to harm crypto... he's definitely telling us that we should be rightfully scared of the ability for nations to attempt to defend fiat at any costs. They aren't willing to go down without a fight, and unlike some countries where government control was already weak, there is a lot of firepower defending the titles of money-printer of the lands where crypto is still allowed to operate.
Scary stuff, go forward wisely, try to mitigate your risk at this point because there are so many black swans on the horizon that one can never be too sure of what tricks they'll pull out of the bag next.
Nice interview with a pretty honest sounding guy, was enjoyable, thanks!