FTX leaned so hard into being the most trusted guy in the room that they sponsored the MLB to get little patches on the umpires' uniforms. Unfortunately, the most trusted operator in a room full of frauds is still a fraud.

FTX was a crypo exchange that intermingled customer funds with their trading desk Alameda Research, which was uniquely good at losing billions of dollars.

Who among us hasn't made an honest accounting mistake, though? Let he who hasn't forgotten about an $8 billion liability in a "Hidden, poorly internally labeled ‘fiat@’ account" cast the first pitch.

FTX's collapse caused serious ripples through the crypto space. We'll see what happens when Tether collapses.