Are you kidding? The FTX fraud was a fucking joke: basically he said "hey, I'm unregulated - give me your money" and cryptobros are so fucking stupid they did. It took Madoff decades to get to the position of confidence were he was able to convince relatively sophisticated people to invest in his (allegedly) regulated business. When regulator started sniffing around, Madoff had to charm them.

FTX was the equivalent of a cardboard box wrapped in tinfoil with BANK written on with crayon.