It wasn’t a failure. It was a scam. The “failure” was the revelation of the scam, which was a good thing.
The fact that SBF has in the past publicly described running a Ponzi and not really recognized it as one indicates it may even be possible that the FTX guys didn’t even understand they were running a scam.
But just because they did not realize they were doing so does not make the scam they were running any less of one.
The fact that SBF has in the past publicly described running a Ponzi and not really recognized it as one indicates it may even be possible that the FTX guys didn’t even understand they were running a scam.
But just because they did not realize they were doing so does not make the scam they were running any less of one.