FTX’s Collapse Was a Crime, Not an Accident

Coindesk was the genesis of the news that ultimately ended up bringing down FTX. I strongly agree with their take on the crimes involved in FTX.

Since his con collapsed, Bankman-Fried has continued to muddy the waters with carefully disingenuous letters, statements, interviews and tweets. He has attempted to portray himself as a well-intentioned but naïve kid who got in over his head and made a few miscalculations. This is a softer but more pernicious version of the crisis management approach Donald Trump learned from the black-hat mob lawyer Roy Cohn: Instead of “deny, deny, deny,” Bankman-Fried has decided to “confuse, evade, distort.”

I've intentionally avoided Bankman-Fried's various interviews. I think it is exactly as described, an attempt to control the narrative. And very sadly it is working. Bankman-Fried needs to be held to account for the crimes undertaken in his leadership. That this happened in crypto is not the main focus here, but to move forward the industry needs to hold FTX and all to account and then move on.