> FTX, on the other hand, was just plain old fraud, not really related to crypto itself A huge part of the FTX/Alameda fraud involved minting their own utility

> FTX, on the other hand, was just plain old fraud, not really related to crypto itself A huge part of the FTX/Alameda fraud involved minting their own utility token (FTT), artificially inflating the price, and then using it as collateral for further loans. How is that not a crypto failure? Unless you only define "crypto failure" as "smart contract got hacked", in which case we'll have to agree to disagree. Frankly, I think folks in the crypto community trying to spin FTX as "not crypto" are simply engaged in goalpost shifting.