Could of, would of, and should of are (nearly) ALWAYS wrong. Replace the "of" with "have" and suddenly you are speaking English.

It is how the uneducated say "could have" and it's pathetic.

Do you think Ryan has misheard the contraction "could've" his entire life, or is he just stupid?

There is an exception but it doesn't apply to Ryan. "Could of" works in the sense that "I ate all I could of my sandwich". Does not make sense when describing awards he could have won.

It's not chat speak, it's lack of education as evidenced that the contraction "could've" is the exact same length as "could of". But one makes sense and the other does not.