To me he's not saying banks are morally better, but rather that banks solve problems better than cryptocurrencies. He's specifically talking about what happens

To me he's not saying banks are morally better, but rather that banks solve problems better than cryptocurrencies. He's specifically talking about what happens if the bank misplaces $70M. In most cases the other bank gives it bank, if not then they say "who cares" and declare it "ops loss".