The sad part is the depositors that got caught in this mess.
If SBF was not a trading platform, but say, a medical device company, this story would have had a much more palatable set of victims.
> The new CEO of the collapse cryptocurrency trading firm FTX, who oversaw Enron’s bankruptcy, said he has never seen such a “complete failure” of corporate control.
> John Ray III, in a filing with the U.S. bankruptcy court for the district of Delaware, said there was a “complete absence of trustworthy financial information.”
> “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” Ray said. “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”
> https://fortune.com/2022/11/17/ftx-bankruptcy-filing-john-ra...