John Oliver Slams Crypto: It’s Just a Big Casino!

• John William Oliver criticizes cryptocurrencies and their use cases in the latest episode of Last Week Tonight.
• He claims that the only use Bitcoin and other digital assets have is “gambling” and that the crypto scene is one “big casino.”
• Oliver cites several failed projects which led to the loss of millions, including Terra, FTX, And Celsius Collapse which caused a broader collapse of the crypto market across the board.

John William Oliver Criticizes Cryptocurrencies

John William Oliver, a renowned comedian, actor, producer, and Emmy-award winner popularly known for his acclaimed half-hour series Last Week Tonight, has been critical of cryptocurrencies and how some of its actors have used the technology to defraud users. In his latest episode he reiterated this criticism claiming that Bitcoin and other digital assets have only one use case; gambling. According to him, nothing significant has changed over the years in regards to cryptocurrency usage and “The crypto scene is one big casino”.

Failed Projects Led to Loss Of Millions

He cited several failed projects which led to massive losses in millions or even billions of dollars even though they had promised to be a game changer by replacing components of financial systems with blockchain technology. These projects included TerraUSD (UST), whose spectacular collapse was due to its founders’ alleged fraudulent activities leading them into legal trouble both in US and South Korea. At its peak LUNA token commanded a value over $40 Billion before plummeting back down after its creators were arrested on fraud charges.

Crypto Use Cases Are Limited

In spite of these examples of mismanagement within certain blockchain projects there are still some legitimate uses for cryptocurrency such as payments for goods or services among others. However these use cases are limited when compared with traditional payment methods like credit cards or cash given their volatile nature making it difficult for them to gain widespread adoption as an alternative currency system.

Future Of Cryptocurrency Usage Is Uncertain

The future remains uncertain regarding what will become of cryptocurrencies given that they are still largely unregulated by governments around the world making them vulnerable to manipulation from malicious actors looking to make fast profits while leaving investors with huge losses after price bubbles burst.


Cryptocurrency may still hold promise as an alternative payment method but until proper regulations are put into place it will continue being primarily used as a speculative asset rather than an established form of currency accepted by merchants worldwide despite some companies trying hard to make it more mainstream like BTCPay Server or Coinbase Commerce who facilitate payments with cryptocurrencies online through their respective platforms

John Oliver Slams Crypto: It’s Just a Big Casino!
Scroll to top