I feel sorry about your loss on Verge.

You're right that governance is needed but this will be the case eventually. The government is just very slow when it comes to this type of things. Regulations are being made and then institutional money can finally enter the market. Because big pension funds are not allowed by law to invest into crypto when 1 they have no custody and 2 the market is unregulated. Regulations are just the next step for this market to become mature.

People are maybe to naive when it comes to investing. Take bitconnect for instance, at a certain point it was generally accepted as a scam. Still the price didn't crash. Some people don't want to believe it's a scam even if you expose it for them. That's some wishful thinking from their part.