Most EA adherents focus on process not outcomes. So from an EA position, the fraud outcome doesn’t matter. Imagine if SBF gambles paid off they might say, and that potential outcome must be probablistically weighed against the negative outcome. Since crypto in most EA is viewed as a sin industry, the negative impact is minor relative to the positive impact of SBF political and charity donations, so even a slim chance of success should be taken.
However EA logic is wrong because utilitarianism is wrong. It doesn’t matter whether stealing and fraud create good outcomes or not. Theft and fraud are evil in themselves irrespective of outcomes. To put it in an extreme sense, even if it would save the planet you should still not steal nor defraud others. The fact that some actions are in essence evil is enshrined in the legal system, is commonly accepted, and philosophically sound.
However EA logic is wrong because utilitarianism is wrong. It doesn’t matter whether stealing and fraud create good outcomes or not. Theft and fraud are evil in themselves irrespective of outcomes. To put it in an extreme sense, even if it would save the planet you should still not steal nor defraud others. The fact that some actions are in essence evil is enshrined in the legal system, is commonly accepted, and philosophically sound.