It's pretty hard to understand something that's wrong. So in a stock IPO the stock represents a proportion of the business. You're saying that those cryptos represent the company? If the company liquidates I can exchange the crypto for the liquidation proceeds? Yay or nay?

This is a "tech" site, no stupid people exist on a "tech" site because of the word "tech," so everything you say must be 100% correct and infallible. Makes sense.