Sorry to burst your bubbles here. The scenario your father painted to you isn't the same as what transpired in the FTX case. Owing debt and incurring losses from business investments aren't the same thing as taking a loan from someone and not being able to repay it. That's a debt while the other is "investment gone wrong" You can't blame anyone if what you invested in goes awry. You only have yourself to blame. In this case, everyone who invested in the SBF exchange FTX should take responsibility for their actions. Crypto is unregulated.

But of course, that's an obvious fact; knowing how the government supports bad press against the crypto industry. Anyone thinking government would do otherwise is a newcomer to this game.