FTX wasn't a failure - it was a perfectly executed demolition designed to serve a much larger purpose.
The FTX collapse makes the legacy financial system (corrupted by several thousand trillion dollars) appear stable and trustworthy by comparison. This is the "hoax being played right now in front of our eyes" - showing crypto's ugliness while hiding traditional banking's massive corruption.
FTX represents a "Lehman event" that will cascade through the financial system, taking down institutions that were "invested" and need an excuse to fail. The damage exceeds Bernie Madoff's scheme and creates the justification for new regulations and oversight.
But this isn't about fixing the system - it's about transitioning to triple-entry bookkeeping on blockchain without national jurisdiction. Bitcoin's "unhackable code" becomes the standard for international commerce, replacing the need for auditors and national oversight.
