The fact that it collapsed was really bad, because everywhere i read about it, ignorant people mock and ridicule cryptos now being a scam. Uneducated people get invited to talk in news to tell that prices of cryptos were based on nothing. Those who mock loudest have a big cheering audience of followers and those will get wrong data what really happened.

The underlying issues how ever are worse, i would compare it to banks and say that if they mess up, they get bailed out. In fact Binance would probably bailed them out if what they did wasn't so messed up.

But i really even can't because to my knowledge even failed banks that got bailed out haven't messed up this way. We have just funded most unprofessional company with billions of dollars. Incompetence and carelessness of Sam was surreal in hindsight, they had no safe measures and it was huge FU to any kind of risk analysis. And new stuff that gets revealed like a billion dollar loan to Sam doesn't really help the situation. Even their company's psychiatrist is leaking out info that makes me think that they did even hire such incompetence on that sector that no one else would.