FTX Benefited From Venture Capitalists’ Suspension of Disbelief
In a bankruptcy filing, court appointed CEO John J. Ray III said FTX had been unable to provide a complete list of who worked for it and in what capacity.
The narrative that emerged in the days after the collapse of FTX, the $32.5 billion exchange at the center of Sam Bankman-Fried's crypto trading empire, was that it had to be the result of some highly sophisticated and nefarious scheme that only came to light following a series of unfortunate events. After all, some of the smartest minds in the financial world were…