There was the time where SBF openly described a Ponzi scheme to Matt Levine and the Odd Lots podcast hosts and suggested that that's what FTX is powered by. He

There was the time where SBF openly described a Ponzi scheme to Matt Levine and the Odd Lots podcast hosts and suggested that that's what FTX is powered by. He wasn't really saying FTX is a Ponzi, but it was an open admission that they're providing the infrastructure for Ponzis and taking fees. If you're someone who believes in the concept of personal principles, this was pretty decent signal SBF was sorely lacking on at least the dimension of financial responsibility. Levine paraphrased as, "we're in the Ponzi business, and business is pretty good."