Is crypto permissible?

Hey guys, I started crypto a few months ago but then I had a small debate with a cousin of mine who told me that it's not backed by a commodity of any sort and it does not hold intrinsic value, which is one of the necessary elements of a "currency" in Islam, and he was right for the most part.

He then told me about Taqi Usmani and how much authority he has on the subject, and how he declared it haram through one of this fatwas. I understood that it was not as simple as it seems, most scholars find it problematic to deem it permissible, which they are correct in doing.

Fast forward, I did a very detailed research on crypto and came to the conclusion that due to the fact that it's not holding any intrinsic value it's not permissible and of course our day to day fiat currency also isn't backed by gold anymore, which made fiat currencies "Halal", and that the principle of darurah, or necessity is what makes it halal for now.

I recently debated a friend with another perspective on crypto, he told me that even though it's not backed by gold or a commodity, it is backed by Dollars, what gives it trade value is what gives anything trade value which is dollars. While believing that the only things that make money, or currency halal is either necessity when commodity is not backing it, or either it's a commodity, there's no other way for a currency or money to remain halal... He didn't argue against this argument

I did win the debate because unknowingly this stance is held by more Orthodox and strict scholars, however I did some more research after the debate thinking there was something thats missing, because if this was a 100% the case people wouldn't debate for it to be halal or Haram, the scholars would then simply deem it haram...

After some more research I understood that the criteria that I was putting on currencies to remain halal, which was mostly relying on the basis that "no commodity = necessity" was very strict, and modern day scholars reject it on the basis that people can deem money what they want to use as money as long as it doesn't hold any riba or capability of only being used negatively...

Then I found out that necessity, or even a commodity was not a requirement for currency or money by the Quran and Sunnah, as the Prophet Muhammad PBUH, used dates for exchange at times too... It's mostly based on the fact that people want to use that thing for exchange, however the most strong currency in those times used to be gold and silver.

This broke my stern stance on crypto and now I believe that it just might be halal, and the modern day scholars just might be right... Even though they're smaller in numbers when compared to scholars that hold the opposite stance. Plus I understand that in fiqh ul ikhtilaf it's preferred to pick the side with the majority vote.

So now I don't know what to do, I keep on thinking that retail forex trading through brokerages is Haram, maybe this is another door that Allah has opened for me... I need your guys views on this, and what stance you hold for what reason.

Thank you for reading till the very end, tyia for any and all advice.

Plus. I understand that it can be used as both an asset and a currency too, which further confuses me.