Earlier quoted context omitted.
That's a false equivalence. Literally every share of a business is supposed to be backed by a business. Zero coins entitle the bearer to any right or interest whatsoever. Even those stable coins don't give you any claim on the backing instruments. Certainly not in Tether town. Says so right in their T&Cs.
The key word there is 'supposed'... Theranos, B. Madoff, and others seemed to feel that was just a suggestion :-P Also, businesses are not required to buy their stock back from you, so they are not 'backed' any more then crypto is. If a company goes broke, and you hold common stock - you get nothing edit:s/there/their/
In this thread, you're comparing crypto to Madoff and Theranos, and you think this is an argument in its favour.