The comments saying the lesson here is that recipients of donations like non-profits and foundations should be vetting their donors better seem unreasonable to me.
If FTX investors, customers, and watchers of the crypto space did not catch what FTX and SBF were doing until the shit hit the fan, what kind of due diligence can we reasonably expect of these recipients that would’ve alerted them to something being wrong here?
And consider that the number of donors for most institutions would be much larger than the number of companies FTX investors would’ve had to keep an eye on.