There is no "legit crypto" - it's a myth. Every single exchange that swaps spit with the Bitcoin ledger is laundering money made by criminal (often violent or fraudulent) means. Many if not most altcoins are equally as fraudulent, or used to launder ("tumble") other suspicious coins.

Let's be honest anyways, the cryptocurrency "industry" as we know it is less than 4 years old, and in 4 years it may be gone. Exchanges like coinbase and so-called defi innovators like A16Z need this legally-dubious signalling or they'll risk never having another leader corrupt enough to sanction their behavior.