Last week brought us another mega-scandal as another celebrated, multi-billion dollar success story turned out to be a massive fraud. As more details emerge about FTX and its young founder, Sam Bankman-Fried, the outlines of the story increasingly resemble another mega-scandal, Theranos. It would appear that our financial-political-media complex has developed a template for industrial scale fraud.

The FTX, Theranos fraud template – by Alex Krainer