Crypto is one of many. Just like SPACs, crowdfunding and the entire VC landscape are always finding millions of ways to dump on retail after they made their 100x on unprofitable startups (90% of them have failed) founded by their friends racing to the IPO finishing line.
This is why they have to continuously raise money and breathlessly celebrate it on social media and even on this site as if "raising capital" into the Series H is a good thing.
Sorry to disappoint you but it isn't going to stop.
At least with SPACs, they're securities and you can see their finances before you invest. They're also regulated by the SECs and audited.
With the vast majority of crypto, people who start them don't intend for them to be useful. People who start them intend to scam retailers. That's it. They make up a shitcoin, throw flashy parties, spend on marketing, and then sell their shitcoin on retail. Retail knows it's all a scam too but it's a game of musical chair.
This is why they have to continuously raise money and breathlessly celebrate it on social media and even on this site as if "raising capital" into the Series H is a good thing.
Sorry to disappoint you but it isn't going to stop.