And while SBF’s FTX takes the cake for crypto’s biggest con in dollar terms, it’s noteworthy how many other conmen crypto has produced: Mt. Gox’s Mark Karpeles, QuadrigaX’s Gerald Cotton, OneCoin’s Ruja Ignatova. The list goes on.

Source: Crypto’s Very Human Fatal Flaw: Hero Worship

Same thing happened with Elizabeth Holmes – the media worshipped her and few (until a WSJ reporter took a look) made skeptical inquiries.

More crypto businesses will announce losses over the next few weeks as their exposure to FTX becomes public. More such businesses will likely fail.

By EdwardM

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