Most CFOs never liked crypto—even before FTX's collapse

Sam Bankman-Fried, co-founder and chief executive officer of FTX, in Hong Kong, China. Behind him is a window showing a cloudy sky. He is facing the camera but looking off to the right.

Good morning,

Crypto is unregulated and volatile. Its true worth is ephemeral. Investing in it is risky. In other words, for most CFOs it's a total nightmare combination they've tried to stay far away from. (Most CFOs are unwilling to put it on the balance sheet.) Which has made the collapse of exchange FTX both a finance horror story—but also an 'I told you so' moment.