Never in business history has there been a more abrupt heel turn than the one we saw from Sam Bankman-Fried — or SBF, as he's universally known — over the past week.
Why it matters: The crypto world has seen large financial losses before, and will see them again; it's notoriously rife with ponzis, frauds and rug-pulls. If the collapse of SBF's crypto exchange, FTX, caused nothing but financial losses, that would be bad but not unprecedented.
