The collapse of cryptocurrency exchange FTX revealed that founder and owner Sam Bankman-Fried was a fraud. What Bankman-Fried did was to pull off a new version of an old scam—much like the stereotypical televangelist. His much-vaunted commitment to using money to help others allowed him to continue on longer than he should have—because people wanted to believe he was doing good, doing things for the right reasons.
