FTX’s fall familiar

Regarding “Curry among targets of FTX-related lawsuit” (Bay Area & Business, Nov. 18): Boy, I just had to laugh at Bob Egelko's article on all the lawsuits, investigations and brouhaha over the collapse of the FTX cryptocurrency exchange.

When crypto first started going mainstream, I thought to myself, “This is just like the 1990s dot-com boom and bust.” And sure enough, that's what it's turning out to be.

The irony, of course, is that the collapse of FTX is no different from the collapse of all the Wall Street banks in the 2008 financial crisis. Wall Street's scam was just as fraudulent as FTX's, but when the fraud is on a large scale, the government steps in to bail out the financial criminals with our money. Welcome to late-stage capitalism.

Robert Leeds, Oakland