Now i would like to very much like to blame Kwon for UST as he was warned several times about issues with it but he was just too arrogant and annoying to take the threat seriously. But if SBF had anything to do with this, then not only is he blamed for FTX crash and bear run after that, but he just might be the man behind the WHOLE current crypto downfall.
I believe the bear market is already present when Terra Luna collapsed. A bear market is supposed to happen whether Terra Luna, FTX, or any other bankrupted company does not appear. It is part of the cycle and is bound to happen. So I do not think that we have to blame these people for the bear market, instead, we can blame them for the losses of thousands to millions of investors when their company shut down.