What does a bank do? Many things that crypto can't but probably the number 1 thing compared to crypto ... the bank (via the FDIC) provides assurances for each account for up to $225,000 USD.

I wouldn't write off banks that quickly.

It's important to note that FDIC doesn't kick in for instances of scams or other unauthorized transfers. It only gives assurances to deposit holders. Stablecoins under the GENIUS Act requires 100% backing and is more stringent than banks since reserve requirements are still 0%[1]. I think it's also useful to focus on stablecoins in a conversation like this rather than crypto at large.

[1] https://www.federalreserve.gov/monetarypolicy/reservereq.htm