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Fortune
Fortune
Jacob Carpenter

Why Congress shouldn’t escape some responsibility for the FTX fiasco

(Credit: Sarah Silbiger—Bloomberg/Getty Images)

Where to start with the blame game for FTX’s multibillion-dollar collapse?

Obviously, FTX founder and CEO Sam Bankman-Fried is the biggest culprit, given his obfuscation of the cryptocurrency exchange’s self-dealing and reckless business strategy. Crypto-crazy venture capitalists deserve some shaming, too, for impetuously propping up SBF without subjecting him to more due diligence. A bit of an onus also falls on bellicose blockchain bulls, who badgered and berated anyone with the temerity to question the system.

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