jfc another pathetic attempt "The irony, as Sam now admits, is that the company’s real vulnerability came not from fraud but from compliance: an obsessive effort to satisfy regulators who seemed determined to punish rather than guide. “Our developers spent half their time jumping through hoops for regulators,” he told me. “Instead of focusing on building safeguards or risk management tools, we were producing reports no one read and presentations no one believed.” The consequence, he believes, was fatal distraction. By the time the market panic hit, FTX’s internal systems were burdened with bureaucracy, its leadership exhausted, and its founder overwhelmed by conflicting legal advice."(wishful_cynic)