The current president of the world's most powerful country recently launched a personal coin, named after himself, held for 80% by him, earned him billions (estimated at approximately half his net-worth), hosts pay-to-play dinners the top 200 coin holders, and creates a mechanism for foreign states to pump the coin in exchange for political gifts.
Crypto's current era has never been more wild. It's actually quite insane.
The number of shitcoins is at an all-time high. Most crypto trading is of the gambling nature.
Bitcoin is getting relatively mainstream and not too wild, everything else is a shitshow. But even bitcoin for 99% of users is just a speculative asset, just more stable and mainstream. Virtually nobody is using it for transactions (except for illegal products), for banking, or as an inflation hedge. Even in high-inflation countries like Turkey, sub 1% of assets are held in bitcoin.
Poor journalism to make this wholly unsubstantiated claim about crypto's wild west era being over based on some new US legislation around stablecoins, even if the part about stablecoins was true.