"Crypto is a great experiment where people who didn't live in the 19th century get to relive at 10x speed all the bank runs and regulatory changes that happened then"
Much of the altcoin industry seems to have picked it up as an instruction manual.
(Not that there aren't scams in Bitcoin land-- but they've mostly been concentrated into the altcoin ecosystems, which tend to be overweight in the exuberant and gullible even compared to Bitcoin. It's completely unsurprising to see the FTX implosion happening at a scamcoin casino who's CEO had been publicly attacking Bitcoin -- it would have been much more surprising to see it at a Bitcoin only or mostly organization)
Shitcoins represent a technological breakthrough in scamming because they scale so much better than operating a call center and have no physical footprint
look up https://en.wikipedia.org/wiki/Wildcat_banking it's kind of an interesting period in finance that got kind of forgotten as it did not exactly end well.